Impinj, Inc. (NASDAQ:PI) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Impinj, Inc. (NASDAQ:PI) have been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $119.44.

PI has been the topic of several recent research reports. Evercore ISI initiated coverage on Impinj in a research report on Tuesday. They issued an “outperform” rating and a $160.00 price objective on the stock. Roth Mkm upped their price objective on Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. StockNews.com upgraded Impinj to a “sell” rating in a research report on Friday, February 9th. Canaccord Genuity Group upped their price objective on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, The Goldman Sachs Group upped their price objective on Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 9th.

Impinj Price Performance

Shares of NASDAQ:PI opened at $121.39 on Friday. Impinj has a twelve month low of $48.39 and a twelve month high of $142.70. The company’s 50 day moving average is $115.60 and its 200 day moving average is $91.31. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. The company has a market cap of $3.36 billion, a PE ratio of -74.93 and a beta of 2.05.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The company had revenue of $70.65 million for the quarter, compared to the consensus estimate of $67.10 million. On average, sell-side analysts forecast that Impinj will post -0.62 EPS for the current year.

Insider Activity

In other news, insider Cathal G. Phelan sold 2,556 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $98.88, for a total transaction of $252,737.28. Following the transaction, the insider now owns 24,990 shares in the company, valued at approximately $2,471,011.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Impinj news, insider Cathal G. Phelan sold 2,556 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $98.88, for a total value of $252,737.28. Following the transaction, the insider now owns 24,990 shares in the company, valued at approximately $2,471,011.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jeffrey Dossett sold 4,858 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $101.11, for a total value of $491,192.38. Following the completion of the transaction, the executive now owns 57,110 shares in the company, valued at approximately $5,774,392.10. The disclosure for this sale can be found here. Insiders have sold 117,634 shares of company stock worth $12,464,886 in the last quarter. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sylebra Capital LLC increased its stake in shares of Impinj by 6.3% in the 4th quarter. Sylebra Capital LLC now owns 4,197,352 shares of the company’s stock worth $377,888,000 after acquiring an additional 248,786 shares during the last quarter. FMR LLC increased its position in shares of Impinj by 0.8% during the 3rd quarter. FMR LLC now owns 4,028,894 shares of the company’s stock worth $221,710,000 after purchasing an additional 31,289 shares during the last quarter. Sylebra Capital Ltd increased its position in shares of Impinj by 4.1% during the 1st quarter. Sylebra Capital Ltd now owns 2,848,085 shares of the company’s stock worth $385,972,000 after purchasing an additional 111,697 shares during the last quarter. BlackRock Inc. grew its position in Impinj by 1.5% in the 1st quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock valued at $89,758,000 after acquiring an additional 20,404 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Impinj by 13.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,251,084 shares of the company’s stock valued at $100,124,000 after acquiring an additional 153,039 shares in the last quarter.

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.