Analysts Set Impinj, Inc. (NASDAQ:PI) PT at $224.60

Impinj, Inc. (NASDAQ:PI) has been assigned an average rating of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $218.30.

Several equities research analysts recently issued reports on PI shares. Cantor Fitzgerald upped their price target on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Piper Sandler reiterated an “overweight” rating and issued a $235.00 target price (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Lake Street Capital increased their target price on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Evercore ISI restated an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Finally, The Goldman Sachs Group upped their price objective on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th.

Impinj Trading Down 0.4 %

NASDAQ:PI opened at $131.94 on Friday. Impinj has a 12 month low of $91.86 and a 12 month high of $239.88. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 148.25 and a beta of 1.88. The firm has a fifty day simple moving average of $163.27 and a two-hundred day simple moving average of $176.36.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. During the same quarter last year, the firm posted ($0.36) earnings per share. The company’s revenue for the quarter was up 46.5% compared to the same quarter last year. Equities analysts predict that Impinj will post 0.4 earnings per share for the current fiscal year.

Insider Activity at Impinj

In other news, major shareholder Sylebra Capital Llc sold 250,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $203.00, for a total transaction of $50,750,000.00. Following the completion of the transaction, the insider now directly owns 2,222,352 shares in the company, valued at $451,137,456. The trade was a 10.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Jeffrey Dossett sold 7,500 shares of Impinj stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $181.17, for a total value of $1,358,775.00. Following the sale, the executive now directly owns 65,294 shares of the company’s stock, valued at $11,829,313.98. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 655,038 shares of company stock worth $131,064,693. 51.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Impinj

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Impinj by 25.7% in the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after purchasing an additional 220,776 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Impinj during the second quarter valued at about $30,116,000. Principal Financial Group Inc. increased its holdings in shares of Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after buying an additional 122,579 shares during the period. Wellington Management Group LLP purchased a new position in Impinj in the 3rd quarter worth approximately $24,771,000. Finally, AXA S.A. bought a new stake in Impinj in the second quarter valued at approximately $11,574,000.

Impinj Company Profile

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.