Impinj, Inc. (NASDAQ:PI) Receives $132.89 Average Target Price from Analysts

Shares of Impinj, Inc. (NASDAQ:PI) have received a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $132.89.

A number of analysts recently issued reports on PI shares. Needham & Company LLC upped their target price on Impinj from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Evercore ISI started coverage on shares of Impinj in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 price target for the company. Roth Mkm raised their price objective on shares of Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Canaccord Genuity Group upped their target price on shares of Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, March 14th.

Insiders Place Their Bets

In other Impinj news, CFO Cary Baker sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $159.08, for a total value of $1,590,800.00. Following the completion of the sale, the chief financial officer now owns 67,948 shares of the company’s stock, valued at $10,809,167.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Hussein Mecklai sold 30,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $104.80, for a total value of $3,144,000.00. Following the sale, the chief operating officer now directly owns 40,489 shares in the company, valued at approximately $4,243,247.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Cary Baker sold 10,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $159.08, for a total transaction of $1,590,800.00. Following the completion of the sale, the chief financial officer now directly owns 67,948 shares in the company, valued at $10,809,167.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 183,321 shares of company stock worth $22,221,714. 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. Lord Abbett & CO. LLC acquired a new position in shares of Impinj during the 1st quarter valued at about $9,659,000. ProShare Advisors LLC boosted its holdings in shares of Impinj by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 4,194 shares of the company’s stock valued at $539,000 after purchasing an additional 330 shares during the last quarter. Swiss National Bank grew its stake in shares of Impinj by 0.9% during the 1st quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $5,830,000 after buying an additional 400 shares during the period. TimesSquare Capital Management LLC acquired a new stake in Impinj during the first quarter worth about $19,195,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Impinj in the first quarter worth $513,000.

Impinj Stock Down 3.2 %

PI stock opened at $158.49 on Tuesday. The stock has a market cap of $4.39 billion, a P/E ratio of -452.83 and a beta of 1.85. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29. Impinj has a twelve month low of $48.39 and a twelve month high of $167.45. The company’s 50 day moving average is $129.56 and its two-hundred day moving average is $101.71.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The firm had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. Research analysts expect that Impinj will post -0.62 earnings per share 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.