Impinj (NASDAQ:PI) Price Target Raised to $160.00

Impinj (NASDAQ:PI) had its target price boosted by Needham & Company LLC from $130.00 to $160.00 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also weighed in on PI. The Goldman Sachs Group upped their target price on shares of Impinj from $89.00 to $115.00 and gave the stock a buy rating in a research note on Friday, February 9th. Susquehanna increased their price objective on shares of Impinj from $130.00 to $140.00 and gave the stock a positive rating in a research note on Tuesday. StockNews.com upgraded shares of Impinj to a sell rating in a research note on Friday, February 9th. Evercore ISI began coverage on shares of Impinj in a research note on Tuesday, April 16th. They set an outperform rating and a $160.00 price objective for the company. Finally, Canaccord Genuity Group increased their price objective on shares of Impinj from $130.00 to $150.00 and gave the stock a buy rating in a research note on Thursday, March 14th. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $128.33.

Impinj Stock Performance

Shares of Impinj stock opened at $155.55 on Thursday. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. Impinj has a 52 week low of $48.39 and a 52 week high of $156.41. The firm has a fifty day moving average of $118.27 and a two-hundred day moving average of $94.35.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. The firm had revenue of $76.83 million during the quarter, compared to analyst estimates of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 81.75%. As a group, equities research analysts forecast that Impinj will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In other Impinj news, CFO Cary Baker sold 306 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $123.55, for a total transaction of $37,806.30. Following the completion of the sale, the chief financial officer now directly owns 65,748 shares in the company, valued at $8,123,165.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Cary Baker sold 306 shares of Impinj stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $123.55, for a total value of $37,806.30. Following the completion of the sale, the chief financial officer now directly owns 65,748 shares in the company, valued at $8,123,165.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Hussein Mecklai sold 30,000 shares of Impinj stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the completion of the sale, the chief operating officer now owns 40,489 shares of the company’s stock, valued at $4,243,247.20. The disclosure for this sale can be found here. Insiders sold 120,185 shares of company stock worth $12,767,674 over the last three months. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PI. Future Financial Wealth Managment LLC bought a new stake in shares of Impinj during the first quarter worth $32,000. GAMMA Investing LLC bought a new stake in shares of Impinj during the fourth quarter worth $40,000. Headlands Technologies LLC bought a new stake in shares of Impinj during the fourth quarter worth $58,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Impinj in the third quarter worth $55,000. Finally, Whittier Trust Co. bought a new stake in shares of Impinj in the fourth quarter worth $90,000.

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.