Analysts’ Recent Ratings Changes for Impinj (PI)

Impinj (NASDAQ: PI) has recently received a number of price target changes and ratings updates:

• 10/25/2024 – Impinj was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 10/25/2024 – Impinj had its price target raised by analysts at The Goldman Sachs Group, Inc. from $165.00 to $200.00. They now have a “neutral” rating on the stock.
• 10/24/2024 – Impinj had its price target raised by analysts at Cantor Fitzgerald from $205.00 to $260.00. They now have an “overweight” rating on the stock.
• 10/24/2024 – Impinj had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $235.00 price target on the stock, up previously from $225.00.
• 10/24/2024 – Impinj had its “outperform” rating reaffirmed by analysts at Evercore ISI. They now have a $270.00 price target on the stock, up previously from $205.00.
• 10/24/2024 – Impinj had its price target raised by analysts at Lake Street Capital from $190.00 to $251.00. They now have a “buy” rating on the stock.
• 10/24/2024 – Impinj had its price target raised by analysts at Needham & Company LLC from $195.00 to $245.00. They now have a “buy” rating on the stock.
• 10/21/2024 – Impinj had its price target raised by analysts at Susquehanna from $215.00 to $260.00. They now have a “positive” rating on the stock.
• 9/27/2024 – Impinj had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $225.00 price target on the stock, up previously from $180.00.

Impinj Price Performance

Shares of PI traded down $1.73 during trading hours on Thursday, hitting $189.99. The stock had a trading volume of 374,171 shares, compared to its average volume of 470,737. The firm has a market capitalization of $5.27 billion, a PE ratio of -542.83 and a beta of 1.80. The stock has a fifty day moving average price of $198.64 and a 200 day moving average price of $170.87. Impinj, Inc. has a 12 month low of $59.64 and a 12 month high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business’s quarterly revenue was up 46.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.36) earnings per share. As a group, analysts anticipate that Impinj, Inc. will post 0.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Chris Ph.D. Diorio sold 34,474 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $201.51, for a total value of $6,946,855.74. Following the transaction, the chief executive officer now owns 294,438 shares in the company, valued at approximately $59,332,201.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 66,253 shares of company stock worth $13,525,751. 51.00% of the stock is owned by insiders.

Institutional Trading of Impinj

A number of hedge funds have recently bought and sold shares of PI. Farther Finance Advisors LLC grew its position in Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after acquiring an additional 141 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Impinj during the third quarter worth about $54,000. SouthState Corp acquired a new stake in shares of Impinj during the second quarter valued at about $94,000. nVerses Capital LLC raised its stake in shares of Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after acquiring an additional 300 shares during the period. Finally, Jamison Private Wealth Management Inc. lifted its holdings in shares of Impinj by 211.2% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after acquiring an additional 549 shares during the last quarter.

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.