Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded IMPINJ from a hold rating to a sell rating in a research report on Wednesday, July 19th. KeyCorp downgraded IMPINJ to a hold rating in a research report on Tuesday, June 27th. Morgan Stanley downgraded IMPINJ from an overweight rating to an equal weight rating and raised their target price for the company from $40.00 to $51.00 in a research report on Monday, June 19th. Finally, Canaccord Genuity restated a buy rating and issued a $38.00 target price on shares of IMPINJ in a research report on Friday, May 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. IMPINJ currently has an average rating of Buy and a consensus target price of $43.63.
Shares of IMPINJ (NYSE:PI) traded up 2.95% during mid-day trading on Friday, hitting $31.44. The stock had a trading volume of 570,803 shares. The firm has a 50 day moving average of $45.87 and a 200-day moving average of $39.41. IMPINJ has a one year low of $19.55 and a one year high of $60.85. The stock’s market cap is $655.84 million.
IMPINJ (NYSE:PI) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. The company had revenue of $34.10 million for the quarter, compared to analyst estimates of $33.41 million. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. IMPINJ’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share. Equities research analysts expect that IMPINJ will post $0.06 earnings per share for the current fiscal year.
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In other IMPINJ news, insider Eric Brodersen sold 7,000 shares of IMPINJ stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $53.23, for a total value of $372,610.00. Following the sale, the insider now owns 106,743 shares in the company, valued at $5,681,929.89. The transaction 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 IMPINJ stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $43.68, for a total value of $393,120.00. Following the completion of the sale, the chief financial officer now owns 19,000 shares in the company, valued at approximately $829,920. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,666 shares of company stock worth $2,876,162.
A number of large investors have recently bought and sold shares of PI. Mesirow Financial Investment Management Equity Management acquired a new stake in IMPINJ during the first quarter worth approximately $411,000. Pier 88 Investment Partners LLC purchased a new stake in shares of IMPINJ during the first quarter worth $432,000. Sigma Planning Corp boosted its stake in shares of IMPINJ by 90.9% in the first quarter. Sigma Planning Corp now owns 20,581 shares of the company’s stock worth $623,000 after buying an additional 9,800 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of IMPINJ by 619.3% in the first quarter. Nationwide Fund Advisors now owns 26,118 shares of the company’s stock worth $791,000 after buying an additional 22,487 shares during the last quarter. Finally, Capital Impact Advisors LLC purchased a new stake in shares of IMPINJ during the first quarter worth $1,643,000.
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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