Impinj, Inc. (NASDAQ:PI) Receives $183.44 Consensus Target Price from Analysts

Shares of Impinj, Inc. (NASDAQ:PI) have been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $183.44.

A number of equities analysts recently weighed in on PI shares. Susquehanna lowered their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Cantor Fitzgerald raised Impinj to a “strong-buy” rating in a report on Thursday, February 27th. Piper Sandler lowered their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group cut their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th.

Insider Activity at Impinj

In other news, CRO Jeffrey Dossett sold 378 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $141.05, for a total value of $53,316.90. Following the completion of the transaction, the executive now owns 67,052 shares in the company, valued at approximately $9,457,684.60. This represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Cary Baker sold 1,553 shares of Impinj stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.76, for a total transaction of $153,374.28. Following the sale, the chief financial officer now owns 76,451 shares in the company, valued at $7,550,300.76. This represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,704 shares of company stock valued at $1,925,748 over the last quarter. 51.00% of the stock is owned by insiders.

Institutional Trading of Impinj

A number of large investors have recently made changes to their positions in the company. FMR LLC grew its position in Impinj by 1.5% during the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after purchasing an additional 60,461 shares during the last quarter. Sylebra Capital LLC boosted its stake in shares of Impinj by 8.6% during the fourth quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company’s stock worth $504,360,000 after buying an additional 274,764 shares during the period. Vanguard Group Inc. grew its holdings in shares of Impinj by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company’s stock worth $500,009,000 after buying an additional 104,861 shares during the last quarter. Capital International Investors increased its position in Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock valued at $221,897,000 after acquiring an additional 473,721 shares during the period. Finally, State Street Corp raised its stake in Impinj by 25.7% during the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after acquiring an additional 220,776 shares during the last quarter.

Impinj Trading Down 2.5 %

PI stock opened at $88.40 on Friday. Impinj has a 12-month low of $83.53 and a 12-month high of $239.88. The business’s 50-day moving average is $103.71 and its 200 day moving average is $155.39. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 65.00 and a beta of 1.98.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. As a group, equities analysts forecast that Impinj will post -0.47 EPS for the current fiscal year.

About Impinj

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company’s platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.