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

Shares of Impinj, Inc. (NASDAQ:PI) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $218.30.

PI has been the subject of a number of research reports. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a report on Thursday. Needham & Company LLC dropped their price target on Impinj from $245.00 to $182.00 and set a “buy” rating on the stock in a research report on Friday. Susquehanna raised their price objective on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. Cantor Fitzgerald boosted their target price on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, 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.

Insider Activity at Impinj

In other news, major shareholder Sylebra Capital Llc sold 250,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 2,222,352 shares of the company’s stock, valued at $451,137,456. This represents a 10.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Hussein Mecklai sold 10,000 shares of Impinj stock in a transaction on Monday, October 28th. The stock was sold at an average price of $204.75, for a total transaction of $2,047,500.00. Following the transaction, the chief operating officer now owns 60,041 shares in the company, valued at $12,293,394.75. This represents a 14.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 655,038 shares of company stock valued at $131,064,693 over the last ninety days. Insiders own 51.00% of the company’s stock.

Institutional Trading of Impinj

A number of hedge funds and other institutional investors have recently modified their holdings of the company. National Bank of Canada FI purchased a new stake in shares of Impinj during the third quarter worth about $30,000. Farther Finance Advisors LLC grew its holdings in Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after buying an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Impinj during the 3rd quarter valued at approximately $54,000. Asset Management One Co. Ltd. bought a new stake in shares of Impinj during the third quarter valued at approximately $138,000. Finally, USA Financial Formulas boosted its position in shares of Impinj by 82.0% during the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock worth $142,000 after acquiring an additional 296 shares during the last quarter.

Impinj Stock Down 0.4 %

NASDAQ:PI opened at $131.94 on Friday. Impinj has a twelve month low of $91.86 and a twelve month high of $239.88. The stock has a market cap of $3.73 billion, a P/E ratio of 148.25 and a beta of 1.88. The firm’s fifty day simple moving average is $163.27 and its 200 day simple moving average is $176.36.

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