IMPINJ (NASDAQ:PI) had its price objective hoisted by Needham & Company LLC from $32.00 to $34.00 in a research report report published on Tuesday morning, 24/7 WallStreet reports. They currently have a buy rating on the stock.

PI has been the topic of a number of other research reports. ValuEngine lowered shares of IMPINJ from a sell rating to a strong sell rating in a report on Wednesday, December 11th. BidaskClub upgraded shares of IMPINJ from a sell rating to a hold rating in a report on Saturday, January 18th. TheStreet lowered shares of IMPINJ from a c- rating to a d+ rating in a report on Tuesday, December 31st. Finally, Zacks Investment Research downgraded shares of IMPINJ from a buy rating to a hold rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $37.80.

PI stock traded down $1.24 during trading on Tuesday, reaching $34.73. The stock had a trading volume of 26,781 shares, compared to its average volume of 411,196. IMPINJ has a 1-year low of $14.00 and a 1-year high of $40.24. The company has a current ratio of 5.90, a quick ratio of 4.21 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $798.54 million, a P/E ratio of -35.17, a PEG ratio of 33.30 and a beta of 2.47. The firm has a fifty day moving average price of $28.40 and a 200 day moving average price of $32.58.

IMPINJ (NASDAQ:PI) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $38.21 million. During the same quarter in the previous year, the business posted ($0.05) EPS. The firm’s revenue was up 18.5% compared to the same quarter last year. Sell-side analysts predict that IMPINJ will post -0.74 EPS for the current year.

In related news, CEO Chris Ph.D. Diorio sold 9,500 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $35.01, for a total transaction of $332,595.00. Following the completion of the sale, the chief executive officer now owns 205,478 shares of the company’s stock, valued at approximately $7,193,784.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Eric Brodersen sold 3,000 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $30.64, for a total transaction of $91,920.00. Following the sale, the chief operating officer now directly owns 2,600 shares of the company’s stock, valued at approximately $79,664. The disclosure for this sale can be found here. Insiders sold a total of 40,750 shares of company stock valued at $1,417,448 in the last three months. Insiders own 28.00% of the company’s stock.

Large investors have recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of IMPINJ by 58.6% in the 3rd quarter. State Street Corp now owns 488,619 shares of the company’s stock worth $15,064,000 after acquiring an additional 180,513 shares during the period. Castleark Management LLC lifted its stake in shares of IMPINJ by 24.5% in the 3rd quarter. Castleark Management LLC now owns 111,562 shares of the company’s stock worth $3,439,000 after acquiring an additional 21,980 shares during the period. Vanguard Group Inc. lifted its stake in shares of IMPINJ by 28.2% in the 2nd quarter. Vanguard Group Inc. now owns 604,615 shares of the company’s stock worth $17,304,000 after acquiring an additional 132,865 shares during the period. Barclays PLC lifted its stake in shares of IMPINJ by 20.1% in the 3rd quarter. Barclays PLC now owns 21,449 shares of the company’s stock worth $662,000 after acquiring an additional 3,585 shares during the period. Finally, California Public Employees Retirement System acquired a new stake in shares of IMPINJ in the 3rd quarter worth approximately $220,000. 77.23% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for IMPINJ (NASDAQ:PI)

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