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

Impinj (NASDAQ:PI) released its quarterly earnings data on Wednesday. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate 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 midday trading on Wednesday, reaching $127.06. The company had a trading volume of 1,476,721 shares, compared to its average volume of 669,912. The business’s 50 day moving average price is $149.90 and its 200 day moving average price is $173.40. Impinj has a 1-year low of $97.77 and a 1-year high of $239.88. The stock has a market cap of $3.59 billion, a PE ratio of 142.76 and a beta of 1.88.

Insider Activity at Impinj

In other news, insider Cathal G. Phelan sold 11,549 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $200.81, for a total transaction of $2,319,154.69. Following the sale, the insider now directly owns 6,098 shares of the company’s stock, valued at approximately $1,224,539.38. This represents a 65.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sylebra Capital Llc sold 250,000 shares of Impinj stock in a transaction on Friday, November 8th. The shares were sold at an average price of $203.00, for a total value of $50,750,000.00. Following the completion of the transaction, the insider now owns 2,222,352 shares in the company, valued at approximately $451,137,456. The trade was a 10.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 355,681 shares of company stock worth $71,579,446. Insiders own 51.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PI shares. Lake Street Capital increased their price objective on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC reduced their price objective on Impinj from $245.00 to $182.00 and set a “buy” rating for the company in a research note on Friday, January 17th. The Goldman Sachs Group increased their price target on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Susquehanna decreased their target price on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald upped their target price on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Impinj has an average rating of “Moderate Buy” and an average price target of $214.30.

About Impinj

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.