Impinj, Inc. (NASDAQ:PI) Receives Consensus Rating of “Buy” from Analysts

Shares of Impinj, Inc. (NASDAQ:PI) have been given an average rating of “Buy” by the nine ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $183.44.

A number of research firms recently commented on PI. The Goldman Sachs Group dropped their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Susquehanna lowered their target price on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. Needham & Company LLC reduced their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 6th. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, Piper Sandler cut their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th.

Impinj Stock Up 1.5 %

Impinj stock opened at $69.67 on Tuesday. The stock has a 50-day simple moving average of $86.89 and a 200 day simple moving average of $140.44. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 51.23 and a beta of 1.74. Impinj has a 12-month low of $60.85 and a 12-month high of $239.88.

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

Insider Transactions at Impinj

In other Impinj news, insider Cathal G. Phelan sold 565 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the sale, the insider now owns 7,925 shares in the company, valued at $782,752.25. This represents a 6.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the completion of the sale, the chief executive officer now owns 354,076 shares in the company, valued at approximately $34,975,627.28. This trade represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,857 shares of company stock worth $1,665,290 in the last three months. Insiders own 51.00% of the company’s stock.

Institutional Trading of Impinj

Hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB bought a new stake in shares of Impinj in the fourth quarter valued at approximately $3,341,000. Asset Management One Co. Ltd. grew its holdings in shares of Impinj by 85.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company’s stock worth $174,000 after purchasing an additional 542 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in Impinj by 92.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company’s stock valued at $20,454,000 after purchasing an additional 67,510 shares in the last quarter. Victory Capital Management Inc. raised its stake in Impinj by 7.0% in the fourth quarter. Victory Capital Management Inc. now owns 20,825 shares of the company’s stock valued at $3,025,000 after purchasing an additional 1,363 shares in the last quarter. Finally, KBC Group NV grew its stake in Impinj by 33.5% during the fourth quarter. KBC Group NV now owns 909 shares of the company’s stock worth $132,000 after buying an additional 228 shares in the last quarter.

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.