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

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

Several analysts have issued reports on PI shares. Susquehanna dropped their target price on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Piper Sandler dropped their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC decreased their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald raised shares of Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th.

Insider Transactions at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 841 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $141.02, for a total transaction of $118,597.82. Following the sale, the chief executive officer now directly owns 333,856 shares of the company’s stock, valued at approximately $47,080,373.12. This trade represents a 0.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Cary Baker sold 290 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $140.96, for a total value of $40,878.40. Following the completion of the transaction, the chief financial officer now directly owns 71,754 shares of the company’s stock, valued at approximately $10,114,443.84. This trade represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,704 shares of company stock worth $1,925,748 over the last three months. 51.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Impinj

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new stake in shares of Impinj during the 4th quarter valued at about $29,000. National Bank of Canada FI purchased a new position in Impinj during the third quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in Impinj in the fourth quarter valued at approximately $33,000. Jones Financial Companies Lllp increased its position in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock valued at $38,000 after buying an additional 175 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Impinj by 116.5% during the 4th quarter. IFP Advisors Inc now owns 368 shares of the company’s stock valued at $53,000 after buying an additional 198 shares in the last quarter.

Impinj Price Performance

PI stock opened at $88.40 on Friday. Impinj has a 1-year low of $83.53 and a 1-year high of $239.88. The business has a 50-day moving average price of $103.71 and a 200 day moving average price of $155.39. The company has a market capitalization of $2.52 billion, a P/E ratio of 65.00 and a beta of 1.98.

Impinj (NASDAQ:PI) last announced its quarterly 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 return on equity of 7.11% and a net margin of 11.15%. On average, analysts anticipate that Impinj will post -0.47 earnings per share for the current fiscal year.

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.