Impinj’s (PI) Overweight Rating Reiterated at Piper Sandler

Impinj (NASDAQ:PI)‘s stock had its “overweight” rating reaffirmed by investment analysts at Piper Sandler in a report issued on Friday, Benzinga reports. They presently have a $225.00 target price on the stock, up from their prior target price of $180.00. Piper Sandler’s price target would suggest a potential upside of 5.48% from the company’s previous close.

A number of other brokerages have also weighed in on PI. Needham & Company LLC restated a “buy” rating and set a $195.00 target price on shares of Impinj in a research report on Thursday, July 25th. Roth Mkm upped their target price on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Lake Street Capital upped their target price on shares of Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Evercore ISI upped their target price on shares of Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.60.

Impinj Trading Down 2.1 %

PI opened at $213.31 on Friday. Impinj has a 1-year low of $48.39 and a 1-year high of $220.17. The company has a 50 day simple moving average of $169.34 and a two-hundred day simple moving average of $155.38.

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

Insider Buying and Selling at Impinj

In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the stock in a transaction dated 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 acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Chris Ph.D. Diorio sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $154.03, for a total value of $770,150.00. Following the completion of the sale, the chief executive officer now owns 289,474 shares in the company, valued at approximately $44,587,680.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of Impinj stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, the insider now directly owns 33,050,456 shares in the company, valued at $155,006,638.64. The disclosure for this purchase can be found here. Insiders sold 31,713 shares of company stock worth $5,239,232 over the last 90 days. 51.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PI. Capital International Investors purchased a new position in Impinj in the 4th quarter worth about $68,211,000. Assenagon Asset Management S.A. purchased a new position in Impinj during the 2nd quarter valued at about $103,252,000. Jennison Associates LLC purchased a new position in Impinj during the 1st quarter valued at about $25,747,000. Renaissance Technologies LLC purchased a new position in Impinj during the 2nd quarter valued at about $30,116,000. Finally, TimesSquare Capital Management LLC purchased a new position in Impinj during the 1st quarter valued at about $19,195,000.

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.