Impinj (NASDAQ:PI) Trading 4% Higher

Impinj, Inc. (NASDAQ:PIGet Rating)’s share price traded up 4% during mid-day trading on Wednesday . The company traded as high as $94.20 and last traded at $93.29. 7,234 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 297,264 shares. The stock had previously closed at $89.66.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Impinj from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th. The Goldman Sachs Group lifted their price target on shares of Impinj from $78.00 to $89.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Needham & Company LLC boosted their price objective on shares of Impinj from $96.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Lake Street Capital boosted their price objective on shares of Impinj from $87.00 to $94.00 in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Impinj has a consensus rating of “Moderate Buy” and an average price target of $93.80.

Impinj Price Performance

The business’s fifty day moving average price is $87.25 and its 200 day moving average price is $65.55.

Impinj (NASDAQ:PIGet Rating) last announced its earnings results on Wednesday, July 27th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.11. The business had revenue of $59.80 million for the quarter, compared to analysts’ expectations of $55.12 million. Impinj had a negative net margin of 26.07% and a negative return on equity of 236.49%. The company’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.33) EPS. Analysts predict that Impinj, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,473 shares of the business’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $57.03, for a total transaction of $84,005.19. Following the sale, the chief executive officer now directly owns 317,148 shares in the company, valued at approximately $18,086,950.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Chris Ph.D. Diorio sold 1,473 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $57.03, for a total value of $84,005.19. Following the sale, the chief executive officer now directly owns 317,148 shares in the company, valued at approximately $18,086,950.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Jeffrey Dossett sold 500 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $57.90, for a total transaction of $28,950.00. Following the completion of the sale, the executive now owns 52,795 shares in the company, valued at $3,056,830.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,142 shares of company stock valued at $7,129,883. 20.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Impinj by 35.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,434 shares of the company’s stock worth $155,000 after acquiring an additional 643 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Impinj during the 1st quarter valued at approximately $5,134,000. Principal Financial Group Inc. boosted its stake in shares of Impinj by 55.4% during the 1st quarter. Principal Financial Group Inc. now owns 13,497 shares of the company’s stock valued at $858,000 after buying an additional 4,813 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Impinj by 146.9% during the 4th quarter. Citigroup Inc. now owns 12,159 shares of the company’s stock valued at $1,078,000 after buying an additional 7,234 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Impinj by 49.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,171 shares of the company’s stock valued at $138,000 after buying an additional 722 shares during the last quarter. Institutional investors and hedge funds own 91.11% of the company’s stock.

About Impinj

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Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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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