IMPINJ Inc (NYSE:PI)‘s stock had its “buy” rating reiterated by investment analysts at Canaccord Genuity in a research note issued on Thursday, The Fly reports. They presently have a $35.00 price target on the stock, down from their previous price target of $50.00. Canaccord Genuity’s target price indicates a potential upside of 2.52% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of IMPINJ from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada restated an “outperform” rating on shares of IMPINJ in a research note on Saturday, July 22nd. Needham & Company LLC raised their price target on shares of IMPINJ from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Dougherty & Co started coverage on shares of IMPINJ in a research note on Wednesday, August 23rd. They set a “buy” rating and a $62.00 price target for the company. Finally, BidaskClub lowered shares of IMPINJ from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 10th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $44.14.

IMPINJ (NYSE:PI) last issued its quarterly earnings results on Wednesday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The company had revenue of $32.60 million for the quarter, compared to analysts’ expectations of $32.58 million. During the same quarter in the previous year, the business earned $0.10 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis.

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In related news, CFO Evan Fein sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $38.00, for a total value of $342,000.00. Following the completion of the transaction, the chief financial officer now directly owns 15,300 shares of the company’s stock, valued at approximately $581,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric Brodersen sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $35.81, for a total transaction of $250,670.00. Following the completion of the transaction, the insider now directly owns 101,443 shares of the company’s stock, valued at $3,632,673.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,000 shares of company stock valued at $1,392,420.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PI. BNP Paribas Arbitrage SA boosted its holdings in IMPINJ by 1,261.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock worth $102,000 after buying an additional 1,942 shares during the period. American International Group Inc. bought a new position in IMPINJ in the 1st quarter worth approximately $112,000. Turner Investments LLC bought a new position in IMPINJ in the 2nd quarter worth approximately $146,000. PNC Financial Services Group Inc. boosted its holdings in IMPINJ by 95.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock worth $176,000 after buying an additional 1,765 shares during the period. Finally, First Mercantile Trust Co. bought a new position in IMPINJ in the 2nd quarter worth approximately $178,000.

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.

The Fly

Analyst Recommendations for IMPINJ (NYSE:PI)

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