Impinj, Inc. (NASDAQ:PI - Get Free Report)'s share price traded down 3.5% during trading on Thursday . The company traded as low as $131.00 and last traded at $131.75. 100,721 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 508,286 shares. The stock had previously closed at $136.52.
A number of equities analysts recently weighed in on PI shares. Lake Street Capital lifted their price objective on shares of Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. StockNews.com lowered shares of Impinj from a "hold" rating to a "sell" rating in a research report on Friday, October 25th. Needham & Company LLC lifted their price objective on shares of Impinj from $195.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Cantor Fitzgerald lifted their price objective on shares of Impinj from $205.00 to $260.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Finally, Evercore ISI restated an "outperform" rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Impinj presently has a consensus rating of "Moderate Buy" and a consensus price target of $224.60.
Read Our Latest Analysis on Impinj
The company has a market cap of $3.62 billion, a price-to-earnings ratio of 143.99 and a beta of 1.88. The company's 50-day simple moving average is $166.12 and its 200-day simple moving average is $176.71.
Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. During the same quarter last year, the company earned ($0.36) earnings per share. The business's quarterly revenue was up 46.5% compared to the same quarter last year. Equities analysts predict that Impinj, Inc. will post 0.4 EPS for the current fiscal year.
In other Impinj news, COO Hussein Mecklai sold 10,000 shares of the firm's 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 sale, 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 filing with the SEC, which can be accessed through this link. Also, CEO Chris Ph.D. Diorio sold 34,474 shares of the firm's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $201.51, for a total value of $6,946,855.74. Following the completion of the sale, the chief executive officer now owns 294,438 shares in the company, valued at $59,332,201.38. The trade was a 10.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 655,038 shares of company stock worth $131,064,693 over the last ninety days. 51.00% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. National Bank of Canada FI acquired a new position in Impinj during the third quarter worth about $30,000. Farther Finance Advisors LLC grew its holdings in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock worth $33,000 after acquiring an additional 141 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Impinj during the third quarter worth about $54,000. Asset Management One Co. Ltd. acquired a new position in Impinj during the third quarter worth about $138,000. Finally, USA Financial Formulas grew its holdings in Impinj by 82.0% during the third quarter. USA Financial Formulas now owns 657 shares of the company's stock worth $142,000 after acquiring an additional 296 shares during the period.
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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