Brokerages Set Impinj, Inc. (NASDAQ:PI) Price Target at $155.38

Shares of Impinj, Inc. (NASDAQ:PI - Get Free Report) have received an average recommendation of "Moderate Buy" from the eight ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $155.38.

Several equities research analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. Susquehanna lowered 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. Evercore ISI increased their price objective on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Needham & Company LLC lowered their price objective on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Piper Sandler lowered their price objective on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd.

Impinj Stock Performance

NASDAQ:PI traded down $2.31 during trading hours on Friday, hitting $115.21. The stock had a trading volume of 450,056 shares, compared to its average volume of 594,224. Impinj has a one year low of $60.85 and a one year high of $239.88. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 84.71 and a beta of 1.64. The business's 50 day moving average is $90.02 and its 200-day moving average is $123.59.

Impinj (NASDAQ:PI - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.09 by $0.12. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The firm had revenue of $74.28 million during the quarter, compared to the consensus estimate of $71.73 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The business's quarterly revenue was down 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Impinj will post -0.47 EPS for the current fiscal year.

Insider Activity at Impinj

In related news, insider Cathal G. Phelan sold 565 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.77, for a total value of $55,805.05. Following the completion of the transaction, the insider now owns 7,925 shares of the company's stock, valued at approximately $782,752.25. This trade represents a 6.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Hussein Mecklai sold 3,739 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.81, for a total transaction of $369,450.59. Following the completion of the transaction, the chief operating officer now directly owns 70,347 shares of the company's stock, valued at approximately $6,950,987.07. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,857 shares of company stock valued at $1,665,290. Corporate insiders own 12.40% of the company's stock.

Institutional Trading of Impinj

A number of large investors have recently added to or reduced their stakes in PI. Inspire Investing LLC lifted its stake in Impinj by 45.0% in the fourth quarter. Inspire Investing LLC now owns 2,752 shares of the company's stock valued at $400,000 after acquiring an additional 854 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its stake in Impinj by 91.9% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 2,638 shares of the company's stock valued at $383,000 after acquiring an additional 1,263 shares during the last quarter. KBC Group NV lifted its stake in Impinj by 33.5% in the fourth quarter. KBC Group NV now owns 909 shares of the company's stock valued at $132,000 after acquiring an additional 228 shares during the last quarter. Stordahl Capital Management Inc. acquired a new stake in Impinj in the fourth quarter valued at $363,000. Finally, Spire Wealth Management acquired a new stake in Impinj in the fourth quarter valued at $87,000.

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.