Impinj, Inc. (NASDAQ:PI) Receives $114.38 Average PT from Brokerages

Impinj, Inc. (NASDAQ:PI) has earned an average rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $119.44.

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Needham & Company LLC boosted their price objective on shares of Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Roth Mkm boosted their price objective on shares of Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Susquehanna upped their price target on shares of Impinj from $115.00 to $130.00 and gave the company a “positive” rating in a report on Friday, February 9th. Finally, StockNews.com upgraded shares of Impinj to a “sell” rating in a report on Friday, February 9th.

Insider Buying and Selling at Impinj

In other Impinj news, CFO Cary Baker sold 1,062 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $127.61, for a total transaction of $135,521.82. Following the transaction, the chief financial officer now owns 67,384 shares in the company, valued at approximately $8,598,872.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 40,489 shares in the company, valued at approximately $4,243,247.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cary Baker sold 1,062 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $127.61, for a total transaction of $135,521.82. Following the completion of the transaction, the chief financial officer now owns 67,384 shares in the company, valued at approximately $8,598,872.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,634 shares of company stock worth $12,464,886. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several institutional investors have recently made changes to their positions in PI. The Manufacturers Life Insurance Company raised its stake in Impinj by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 8,583 shares of the company’s stock worth $937,000 after acquiring an additional 86 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Impinj by 2.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock worth $462,000 after acquiring an additional 115 shares during the period. American International Group Inc. raised its stake in Impinj by 1.1% during the 4th quarter. American International Group Inc. now owns 11,601 shares of the company’s stock worth $1,044,000 after acquiring an additional 122 shares during the period. Royal Bank of Canada raised its stake in Impinj by 5.8% during the 3rd quarter. Royal Bank of Canada now owns 2,762 shares of the company’s stock worth $221,000 after acquiring an additional 151 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in Impinj by 10.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,899 shares of the company’s stock worth $170,000 after acquiring an additional 182 shares during the period.

Impinj Price Performance

Shares of NASDAQ:PI opened at $121.39 on Friday. 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 12 month low of $48.39 and a 12 month high of $142.70. The stock has a market cap of $3.36 billion, a P/E ratio of -74.93 and a beta of 2.05. The company has a 50 day moving average of $115.60 and a 200 day moving average of $91.31.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The business had revenue of $70.65 million during the quarter, compared to analysts’ expectations of $67.10 million. As a group, sell-side analysts forecast that Impinj will post -0.62 EPS for the current fiscal year.

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.