Impinj (NASDAQ:PI) PT Raised to $156.00

Impinj (NASDAQ:PI) had its target price increased by The Goldman Sachs Group from $130.00 to $156.00 in a report issued on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Roth Mkm upped their target price on Impinj from $125.00 to $145.00 and gave the company a buy rating in a research report on Thursday, April 25th. Evercore ISI assumed coverage on Impinj in a research report on Tuesday, April 16th. They set an outperform rating and a $160.00 price objective on the stock. Needham & Company LLC lifted their target price on Impinj from $130.00 to $160.00 and gave the stock a buy rating in a report on Thursday, April 25th. Canaccord Genuity Group upped their price target on shares of Impinj from $130.00 to $150.00 and gave the company a buy rating in a research note on Thursday, March 14th. Finally, Piper Sandler reiterated an overweight rating and issued a $150.00 price objective (up previously from $130.00) on shares of Impinj in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Impinj has an average rating of Moderate Buy and an average price target of $132.89.

Impinj Trading Up 4.3 %

Impinj stock opened at $157.45 on Friday. The stock has a 50-day simple moving average of $120.33 and a 200 day simple moving average of $96.31. The stock has a market capitalization of $4.36 billion, a P/E ratio of -449.86 and a beta of 2.05. The company has a debt-to-equity ratio of 3.29, a quick ratio of 6.87 and a current ratio of 9.42. Impinj has a 52 week low of $48.39 and a 52 week high of $159.62.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.14. The company had revenue of $76.83 million during the quarter, compared to the consensus estimate of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. Analysts expect that Impinj will post -0.62 earnings per share for the current year.

Insider Activity

In other news, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the transaction, the chief operating officer now owns 40,489 shares of the company’s stock, valued at $4,243,247.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Cary Baker sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total value of $2,042,800.00. Following the completion of the transaction, the chief financial officer now owns 55,432 shares of the company’s stock, valued at $5,661,824.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Hussein Mecklai sold 30,000 shares of Impinj stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the sale, the chief operating officer now owns 40,489 shares in the company, valued at $4,243,247.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,185 shares of company stock worth $12,767,674. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Impinj

A number of institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Impinj by 2.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock worth $462,000 after buying an additional 115 shares during the period. Wealth Effects LLC raised its position in shares of Impinj by 1.0% in the 1st quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock worth $1,945,000 after acquiring an additional 150 shares in the last quarter. Arizona State Retirement System raised its position in shares of Impinj by 3.3% in the 3rd quarter. Arizona State Retirement System now owns 6,450 shares of the company’s stock worth $355,000 after acquiring an additional 205 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Impinj during the first quarter worth approximately $32,000. Finally, GAMMA Investing LLC bought a new stake in Impinj in the fourth quarter worth approximately $40,000.

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.