Impinj (NASDAQ:PI) Shares Gap Down – What’s Next?

Impinj, Inc. (NASDAQ:PI)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $222.46, but opened at $209.28. Impinj shares last traded at $204.32, with a volume of 240,163 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PI shares. Roth Mkm raised their price target on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $205.00 price target on shares of Impinj in a research report on Thursday, July 25th. Piper Sandler reiterated an “overweight” rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a research report on Thursday. Needham & Company LLC raised their price target on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and an average price target of $208.60.

Impinj Price Performance

The company has a fifty day moving average of $195.01 and a 200 day moving average of $168.26. The firm has a market capitalization of $5.44 billion, a P/E ratio of 704.00 and a beta of 1.80.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $97.47 million. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. On average, sell-side analysts forecast that Impinj, Inc. will post 0.31 EPS for the current year.

Insider Transactions at Impinj

In other Impinj news, insider Cathal G. Phelan sold 209 shares of Impinj 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 directly owns 17,647 shares of the company’s stock, valued at approximately $3,690,870.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Cathal G. Phelan sold 209 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total transaction of $43,712.35. Following the completion of the sale, the insider now owns 17,647 shares in the company, valued at $3,690,870.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Jeffrey Dossett sold 15,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total value of $2,367,150.00. Following the completion of the transaction, the executive now owns 63,642 shares in the company, valued at approximately $10,043,344.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,779 shares of company stock valued at $3,825,046 in the last quarter. 51.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Impinj

Institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. purchased a new stake in Impinj in the 2nd quarter valued at about $103,252,000. Jennison Associates LLC bought a new stake in Impinj during the first quarter worth $25,747,000. Renaissance Technologies LLC purchased a new position in Impinj in the second quarter worth $30,116,000. TimesSquare Capital Management LLC bought a new position in Impinj in the 1st quarter valued at $19,195,000. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Impinj during the 1st quarter valued at $9,659,000.

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.