Impinj (NASDAQ:PI) Rating Reiterated by Piper Sandler

Piper Sandler reissued their overweight rating on shares of Impinj (NASDAQ:PI) in a research note released on Friday morning, Benzinga reports. They currently have a $225.00 price objective on the stock, up from their previous price objective of $180.00.

A number of other research firms have also issued reports on PI. Needham & Company LLC reissued a buy rating and set a $195.00 price target on shares of Impinj in a research report on Thursday, July 25th. StockNews.com raised shares of Impinj from a sell rating to a hold rating in a research note on Friday, July 26th. Lake Street Capital lifted their price target on shares of Impinj from $155.00 to $190.00 and gave the company a buy rating in a research note on Thursday, July 25th. Susquehanna lifted their target price on shares of Impinj from $150.00 to $215.00 and gave the stock a positive rating in a research note on Wednesday, July 17th. Finally, Roth Mkm lifted their target price on shares of Impinj from $145.00 to $175.00 and gave the stock a buy rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $191.60.

Impinj Price Performance

Impinj stock opened at $216.52 on Friday. The stock has a market cap of $6.09 billion, a P/E ratio of -615.91 and a beta of 1.78. Impinj has a 1 year low of $48.39 and a 1 year high of $220.17. The firm’s 50 day moving average price is $169.34 and its 200-day moving average price is $155.95.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. The business had revenue of $102.50 million for the quarter, compared to the consensus estimate of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. As a group, equities analysts expect that Impinj will post 0.31 EPS for the current year.

Insider Transactions at Impinj

In related news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the purchase, the insider now directly owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Impinj news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business’s stock in a transaction on Friday, September 13th. The stock was purchased at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the transaction, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Chris Ph.D. Diorio sold 5,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $162.32, for a total value of $811,600.00. Following the completion of the transaction, the chief executive officer now owns 289,474 shares of the company’s stock, valued at approximately $46,987,419.68. The disclosure for this sale can be found here. Insiders sold 26,713 shares of company stock worth $4,469,082 over the last 90 days. 51.00% of the stock is currently owned by insiders.

Institutional Trading of Impinj

A number of large investors have recently made changes to their positions in PI. Future Financial Wealth Managment LLC purchased a new position in Impinj during the first quarter worth about $32,000. SouthState Corp purchased a new position in shares of Impinj in the 2nd quarter worth about $94,000. nVerses Capital LLC raised its holdings in shares of Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after buying an additional 300 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Impinj by 117.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after buying an additional 521 shares during the period. Finally, Jamison Private Wealth Management Inc. raised its holdings in shares of Impinj by 211.2% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after buying an additional 549 shares during the period.

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.