Impinj, Inc. (NASDAQ:PI) Receives $224.60 Average Target Price from Analysts

Shares of Impinj, Inc. (NASDAQ:PI) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $224.60.

Several equities analysts have recently commented on PI shares. Piper Sandler reaffirmed an “overweight” rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. Susquehanna upped their price objective on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Needham & Company LLC increased their target price on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Cantor Fitzgerald boosted their price target on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th.

Impinj Price Performance

Impinj stock opened at $193.63 on Friday. Impinj has a 12 month low of $78.17 and a 12 month high of $239.88. The company has a fifty day moving average price of $206.17 and a two-hundred day moving average price of $176.92. The company has a market cap of $5.48 billion, a PE ratio of 215.71 and a beta of 1.81.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company’s quarterly revenue was up 46.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.36) EPS. Equities research analysts anticipate that Impinj will post 0.4 earnings per share for the current year.

Insider Activity at Impinj

In other news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This represents a 14.81 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cathal G. Phelan sold 209 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total value of $43,712.35. Following the completion of the sale, the insider now owns 17,647 shares of the company’s stock, valued at approximately $3,690,870.05. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 655,674 shares of company stock worth $131,623,305 over the last ninety days. 51.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Impinj

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC lifted its position in shares of Impinj by 1.5% during the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after acquiring an additional 60,461 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Impinj by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after purchasing an additional 35,893 shares during the period. State Street Corp lifted its holdings in shares of Impinj by 25.7% during the third 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 during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Impinj in the 2nd quarter valued at $103,252,000. Finally, Geode Capital Management LLC increased its stake in Impinj by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock worth $117,576,000 after purchasing an additional 7,676 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.