Impinj (NASDAQ:PI) Price Target Increased to $156.00 by Analysts at The Goldman Sachs Group

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

A number of other equities analysts also recently commented on PI. Needham & Company LLC boosted their target price on shares of Impinj from $130.00 to $160.00 and gave the stock a buy rating in a research note on Thursday. Susquehanna boosted their target price 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. Piper Sandler reiterated an overweight rating and set a $150.00 target price (up previously from $130.00) on shares of Impinj in a research note on Thursday. Finally, Evercore ISI started coverage on shares of Impinj in a research note on Tuesday, April 16th. They issued an outperform rating and a $160.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $132.89.

Impinj Stock Performance

Impinj stock opened at $150.91 on Friday. Impinj has a twelve month low of $48.39 and a twelve month high of $156.41. The stock’s fifty day simple moving average is $119.23 and its 200-day simple moving average is $95.02. The company has a quick ratio of 5.59, a current ratio of 9.42 and a debt-to-equity ratio of 3.29.

Impinj (NASDAQ:PI) last posted its quarterly earnings data 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. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The business had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. On average, analysts expect that Impinj will post -0.62 EPS for the current year.

Insider Activity

In other news, COO Hussein Mecklai sold 30,000 shares of the company’s 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 sale, the chief operating officer now directly owns 40,489 shares of the company’s stock, valued at $4,243,247.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Hussein Mecklai sold 30,000 shares of the company’s 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 sale, the chief operating officer now directly owns 40,489 shares of the company’s stock, valued at $4,243,247.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Cary Baker sold 374 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $118.70, for a total transaction of $44,393.80. Following the transaction, the chief financial officer now directly owns 67,948 shares of the company’s stock, valued at $8,065,427.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 120,185 shares of company stock valued at $12,767,674. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PI. Future Financial Wealth Managment LLC purchased a new position in Impinj during the first quarter worth about $32,000. GAMMA Investing LLC purchased a new position in Impinj in the fourth quarter valued at about $40,000. Headlands Technologies LLC purchased a new position in Impinj in the fourth quarter valued at about $58,000. Asset Management One Co. Ltd. increased its holdings in Impinj by 74.6% in the third quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock valued at $67,000 after buying an additional 524 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Impinj by 75.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,468 shares of the company’s stock valued at $81,000 after buying an additional 629 shares in the last quarter.

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.