Brokerages Set IMPINJ Inc (NASDAQ:PI) PT at $40.00

IMPINJ Inc (NASDAQ:PI) has received a consensus rating of “Hold” from the eight analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $40.00.

Several research firms have recently commented on PI. BidaskClub cut IMPINJ from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Zacks Investment Research cut IMPINJ from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. ValuEngine cut IMPINJ from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Canaccord Genuity reiterated a “buy” rating and set a $42.00 target price (up from $39.00) on shares of IMPINJ in a research note on Friday, August 16th.

PI traded down $1.05 on Monday, reaching $30.51. 223,426 shares of the company’s stock were exchanged, compared to its average volume of 302,350. The company’s 50 day moving average is $32.88 and its 200-day moving average is $32.07. The company has a market cap of $675.13 million, a price-to-earnings ratio of -44.87 and a beta of 2.59. IMPINJ has a twelve month low of $13.25 and a twelve month high of $40.24. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.21 and a current ratio of 5.90.

IMPINJ (NASDAQ:PI) last posted its earnings results on Monday, November 4th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.10. IMPINJ had a negative net margin of 14.52% and a negative return on equity of 1.81%. The firm had revenue of $40.76 million during the quarter, compared to the consensus estimate of $38.21 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The company’s revenue was up 18.5% on a year-over-year basis. Sell-side analysts forecast that IMPINJ will post -0.74 EPS for the current year.

In related news, CEO Chris Ph.D. Diorio sold 10,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $35.50, for a total transaction of $355,000.00. Following the transaction, the chief executive officer now directly owns 236,978 shares in the company, valued at $8,412,719. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory Sessler sold 5,828 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $32.20, for a total value of $187,661.60. Following the transaction, the director now owns 23,864 shares in the company, valued at $768,420.80. The disclosure for this sale can be found here. Insiders have sold 71,078 shares of company stock worth $2,461,794 over the last 90 days. 28.00% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. increased its position in IMPINJ by 61.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 796,316 shares of the company’s stock worth $22,791,000 after buying an additional 304,327 shares during the period. Chevy Chase Trust Holdings Inc. increased its holdings in shares of IMPINJ by 44.2% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 981,806 shares of the company’s stock valued at $30,269,000 after purchasing an additional 300,788 shares during the period. State Street Corp increased its holdings in shares of IMPINJ by 58.6% during the third quarter. State Street Corp now owns 488,619 shares of the company’s stock valued at $15,064,000 after purchasing an additional 180,513 shares during the period. Vanguard Group Inc. increased its holdings in shares of IMPINJ by 28.2% during the second quarter. Vanguard Group Inc. now owns 604,615 shares of the company’s stock valued at $17,304,000 after purchasing an additional 132,865 shares during the period. Finally, Morgan Stanley increased its holdings in shares of IMPINJ by 198.0% during the second quarter. Morgan Stanley now owns 196,734 shares of the company’s stock valued at $5,630,000 after purchasing an additional 130,719 shares during the period. Hedge funds and other institutional investors own 75.99% of the company’s stock.

IMPINJ Company Profile

Impinj, Inc operates a platform that enables wireless connectivity for everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. Its integrated platform connects everyday items to applications, delivering real-time information to businesses about items they create, manage, transport, and sell.

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