Impinj (NASDAQ:PI) Posts Earnings Results, Misses Estimates By $0.49 EPS

Impinj (NASDAQ:PI) posted its earnings results on Wednesday. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49), Zacks reports. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%.

Impinj Stock Up 0.4 %

Shares of NASDAQ PI traded up $0.51 during trading on Wednesday, reaching $127.06. 1,476,721 shares of the company traded hands, compared to its average volume of 669,912. The firm has a 50 day simple moving average of $149.90 and a 200-day simple moving average of $173.40. Impinj has a 52-week low of $97.77 and a 52-week high of $239.88. The stock has a market capitalization of $3.59 billion, a PE ratio of 142.76 and a beta of 1.88.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $235.00 price objective (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. The Goldman Sachs Group upped their target price on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Susquehanna lowered their price target on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. Finally, Cantor Fitzgerald lifted their price target on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $214.30.

Insider Activity at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,504 shares of Impinj stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total transaction of $219,914.88. Following the transaction, the chief executive officer now owns 331,572 shares of the company’s stock, valued at $48,482,457.84. The trade was a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Sylebra Capital Llc sold 250,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $203.00, for a total value of $50,750,000.00. Following the sale, the insider now owns 2,222,352 shares of the company’s stock, valued at $451,137,456. This represents a 10.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 355,681 shares of company stock worth $71,579,446 over the last quarter. Company insiders own 51.00% of the company’s stock.

Impinj Company Profile

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.