Other research analysts also recently issued reports about the stock. Royal Bank Of Canada lowered their price target on shares of IMPINJ from $50.00 to $41.00 and set an outperform rating for the company in a report on Thursday. Piper Jaffray Companies downgraded shares of IMPINJ from an overweight rating to a neutral rating in a report on Thursday. Morgan Stanley lowered their price target on shares of IMPINJ from $37.00 to $29.00 and set an equal weight rating for the company in a report on Thursday. BidaskClub downgraded shares of IMPINJ from a buy rating to a hold rating in a report on Thursday. Finally, Needham & Company LLC lowered their price target on shares of IMPINJ from $48.00 to $45.00 and set a buy rating for the company in a report on Thursday, October 26th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $36.57.
Shares of IMPINJ (PI) traded down $10.57 during trading hours on Thursday, hitting $22.23. 1,682,253 shares of the stock traded hands, compared to its average volume of 672,832. IMPINJ has a 52 week low of $19.97 and a 52 week high of $60.85.
IMPINJ (NYSE:PI) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). The company had revenue of $32.60 million for the quarter, compared to analyst estimates of $32.58 million. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share.
In other IMPINJ news, insider Eric Brodersen sold 7,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $35.81, for a total transaction of $250,670.00. Following the sale, the insider now owns 101,443 shares of the company’s stock, valued at $3,632,673.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Evan Fein sold 9,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $38.00, for a total transaction of $342,000.00. Following the sale, the chief financial officer now directly owns 15,300 shares in the company, valued at approximately $581,400. The disclosure for this sale can be found here. Insiders sold 37,000 shares of company stock valued at $1,392,420 over the last 90 days.
Institutional investors and hedge funds have recently modified their holdings of the business. Columbus Circle Investors bought a new stake in IMPINJ during the second quarter valued at $3,382,000. First Mercantile Trust Co. bought a new stake in IMPINJ during the second quarter valued at $178,000. Geode Capital Management LLC boosted its position in IMPINJ by 4.6% during the first quarter. Geode Capital Management LLC now owns 69,703 shares of the company’s stock valued at $2,109,000 after acquiring an additional 3,050 shares during the last quarter. Pier 88 Investment Partners LLC boosted its position in IMPINJ by 98.0% during the third quarter. Pier 88 Investment Partners LLC now owns 7,678 shares of the company’s stock valued at $319,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. bought a new stake in IMPINJ during the second quarter valued at $13,899,000.
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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