Latest Stocks: IMPINJ’s (PI) Buy Rating Reiterated at Canaccord Genuity

Latest Stocks: IMPINJ’s (PI) Buy Rating Reiterated at Canaccord Genuity

IMPINJ Inc (NYSE:PI)‘s stock had its “buy” rating reiterated by Canaccord Genuity in a research report issued on Friday, May 12th. They presently have a $38.00 price target on the stock. Canaccord Genuity’s price objective suggests a potential downside of 17.87% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded IMPINJ from a “buy” rating to a “hold” rating in a research report on Saturday, May 6th. Royal Bank of Canada dropped their target price on IMPINJ from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, May 5th. Morgan Stanley reiterated a “buy” rating and issued a $40.00 target price on shares of IMPINJ in a research report on Tuesday, March 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of IMPINJ in a research report on Thursday, March 2nd. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $38.88.

IMPINJ (NYSE:PI) opened at 46.27 on Friday. The stock’s 50 day moving average is $40.01 and its 200-day moving average is $33.81. The firm’s market capitalization is $954.78 million. IMPINJ has a 52-week low of $16.36 and a 52-week high of $47.86.

In related news, CFO Evan Fein sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $43.68, for a total transaction of $393,120.00. Following the completion of the sale, the chief financial officer now owns 19,000 shares of the company’s stock, valued at $829,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Brodersen sold 10,200 shares of the firm’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $35.31, for a total value of $360,162.00. Following the sale, the insider now directly owns 131,143 shares of the company’s stock, valued at approximately $4,630,659.33. The disclosure for this sale can be found here. In the last three months, insiders sold 90,973 shares of company stock valued at $3,631,942. Large investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its stake in IMPINJ by 6.5% in the first quarter. Teachers Advisors LLC now owns 11,890 shares of the company’s stock valued at $360,000 after buying an additional 726 shares in the last quarter. Capital Asset Advisory Services LLC boosted its stake in shares of IMPINJ by 25.8% in the first quarter. Capital Asset Advisory Services LLC now owns 7,310 shares of the company’s stock worth $221,000 after buying an additional 1,500 shares during the period. Geode Capital Management LLC boosted its stake in shares of IMPINJ by 4.6% in the first quarter. Geode Capital Management LLC now owns 69,703 shares of the company’s stock worth $2,109,000 after buying an additional 3,050 shares during the period. American International Group Inc. purchased a new stake in shares of IMPINJ during the first quarter worth approximately $112,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of IMPINJ during the third quarter worth approximately $141,000.

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