A number of other analysts have also recently commented on PI. Zacks Investment Research cut shares of IMPINJ from a hold rating to a strong sell rating in a research report on Thursday, May 18th. Royal Bank Of Canada reaffirmed an outperform rating and set a $50.00 price target (up previously from $42.00) on shares of IMPINJ in a research report on Sunday, May 28th. Morgan Stanley cut shares of IMPINJ from an overweight rating to an equal weight rating and upped their price target for the company from $40.00 to $51.00 in a research report on Monday, June 19th. KeyCorp cut shares of IMPINJ to a hold rating in a research report on Tuesday, June 27th. Finally, Needham & Company LLC upped their price target on shares of IMPINJ from $40.00 to $55.00 and gave the company a buy rating in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $47.63.
Shares of IMPINJ (NYSE PI) opened at 40.81 on Thursday. IMPINJ has a 52 week low of $23.55 and a 52 week high of $41.91. The company’s 50-day moving average price is $38.83 and its 200 day moving average price is $34.46. The firm’s market cap is $851.30 million.
IMPINJ (NYSE:PI) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. The business had revenue of $34.10 million for the quarter, compared to analysts’ expectations of $33.41 million. IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 earnings per share. On average, equities analysts anticipate that IMPINJ will post $0.05 earnings per share for the current year.
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In other news, COO Eric Brodersen sold 3,500 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $53.21, for a total transaction of $186,235.00. Following the transaction, the chief operating officer now owns 106,743 shares in the company, valued at $5,679,795.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Evan Fein sold 9,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $38.00, for a total transaction of $342,000.00. Following the transaction, the chief financial officer now owns 15,300 shares in the company, valued at approximately $581,400. The disclosure for this sale can be found here. Insiders have sold 30,000 shares of company stock worth $1,276,605 in the last quarter.
Several hedge funds and other institutional investors have recently made changes to their positions in PI. BNP Paribas Arbitrage SA raised its holdings in shares of IMPINJ by 1,261.0% during the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after purchasing an additional 1,942 shares during the period. American International Group Inc. acquired a new position in shares of IMPINJ during the first quarter valued at about $112,000. ClariVest Asset Management LLC acquired a new position in shares of IMPINJ during the first quarter valued at about $127,000. Nordea Investment Management AB acquired a new position in shares of IMPINJ during the first quarter valued at about $127,000. Finally, Turner Investments LLC acquired a new position in shares of IMPINJ during the second quarter valued at about $146,000.
IMPINJ Company Profile
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
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