Brokerages Set Impinj, Inc. (NASDAQ:PI) PT at $214.30

Impinj, Inc. (NASDAQ:PI) has received an average rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $180.10.

A number of equities analysts recently commented on PI shares. Needham & Company LLC reduced their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Piper Sandler lowered their price target on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Susquehanna cut their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. Lake Street Capital boosted 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. Finally, Evercore ISI restated an “outperform” rating and set a $270.00 price target (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th.

Impinj Stock Down 0.5 %

Shares of NASDAQ PI opened at $104.84 on Thursday. The firm has a 50-day simple moving average of $145.29 and a 200-day simple moving average of $172.30. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 77.09 and a beta of 1.88. Impinj has a 52 week low of $97.77 and a 52 week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.69%. As a group, equities research analysts expect that Impinj will post 1.05 EPS for the current year.

Insider Buying and Selling

In related news, insider Sylebra Capital Llc sold 2,550 shares of Impinj stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $195.41, for a total value of $498,295.50. Following the completion of the transaction, the insider now directly owns 2,129,260 shares in the company, valued at approximately $416,078,696.60. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Jeffrey Dossett sold 7,500 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $181.17, for a total value of $1,358,775.00. Following the sale, the executive now owns 65,294 shares in the company, valued at approximately $11,829,313.98. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,516 shares of company stock valued at $2,646,368. Company insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its position in shares of Impinj by 210.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock valued at $1,855,000 after purchasing an additional 5,807 shares during the last quarter. Nordea Investment Management AB acquired a new position in shares of Impinj during the fourth quarter worth $3,341,000. Thrivent Financial for Lutherans acquired a new position in shares of Impinj during the third quarter worth $3,872,000. Teachers Retirement System of The State of Kentucky purchased a new position in Impinj in the third quarter valued at $846,000. Finally, Intech Investment Management LLC acquired a new stake in Impinj in the third quarter valued at $1,437,000.

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.