Impinj, Inc. (NASDAQ:PI – Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 384,877 shares were traded during mid-day trading, an increase of 0% from the previous session’s volume of 384,265 shares.The stock last traded at $139.19 and had previously closed at $149.31.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on PI shares. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Susquehanna increased their price target on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. The Goldman Sachs Group increased their price target on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Needham & Company LLC increased their price target on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Impinj currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.
Get Our Latest Research Report on PI
Impinj Stock Down 9.8 %
Impinj (NASDAQ:PI – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same period last year, the business posted ($0.36) earnings per share. The company’s quarterly revenue was up 46.5% on a year-over-year basis. Equities research analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current year.
Insider Transactions at Impinj
In related news, COO Hussein Mecklai sold 10,000 shares of Impinj stock in a transaction on Monday, October 28th. The stock was sold at an average price of $204.75, for a total value of $2,047,500.00. Following the completion of the transaction, the chief operating officer now directly owns 60,041 shares in the company, valued at approximately $12,293,394.75. This trade represents a 14.28 % 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 378 shares of Impinj stock in a transaction on Monday, January 13th. The shares were sold at an average price of $141.05, for a total value of $53,316.90. Following the completion of the transaction, the executive now owns 67,052 shares of the company’s stock, valued at approximately $9,457,684.60. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 655,038 shares of company stock worth $131,064,693 over the last ninety days. Company insiders own 51.00% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its stake in Impinj by 1.5% in the third quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after buying an additional 60,461 shares in the last quarter. State Street Corp raised its stake in Impinj by 25.7% in the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after buying an additional 220,776 shares in the last quarter. Geode Capital Management LLC raised its stake in Impinj by 1.4% in the third quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock valued at $117,576,000 after buying an additional 7,676 shares in the last quarter. Jennison Associates LLC raised its stake in Impinj by 15.0% in the third quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock valued at $51,779,000 after buying an additional 31,269 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Impinj by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock valued at $41,840,000 after buying an additional 6,232 shares in the last quarter.
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.
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