Impinj (NASDAQ:PI) PT Raised to $140.00

Impinj (NASDAQ:PI) had its target price upped by research analysts at Susquehanna from $130.00 to $140.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price objective points to a potential upside of 16.40% from the stock’s previous close.

Several other analysts have also recently weighed in on PI. StockNews.com raised shares of Impinj to a “sell” rating in a research note on Friday, February 9th. Needham & Company LLC raised their price target on shares of Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Evercore ISI began coverage on shares of Impinj in a research report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price target on the stock. Canaccord Genuity Group raised their target price on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, The Goldman Sachs Group raised their target price on Impinj from $89.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat.com, Impinj has an average rating of “Moderate Buy” and an average target price of $120.56.

Impinj Trading Up 3.4 %

NASDAQ PI opened at $120.27 on Tuesday. Impinj has a twelve month low of $48.39 and a twelve month high of $141.03. The business’s fifty day moving average is $116.53 and its 200 day moving average is $93.24. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -74.24 and a beta of 2.05.

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

Insider Activity

In related news, COO Hussein Mecklai sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 $4,243,247.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Impinj news, CFO Cary Baker sold 20,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the sale, the chief financial officer now owns 55,432 shares in the company, valued at $5,661,824.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the sale, the chief operating officer now directly owns 40,489 shares in the company, valued at approximately $4,243,247.20. The disclosure for this sale can be found here. Insiders sold a total of 120,185 shares of company stock valued at $12,767,674 in the last ninety days. 17.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new position in shares of Impinj in the 1st quarter worth about $32,000. GAMMA Investing LLC bought a new stake in Impinj in the 4th quarter worth $40,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Impinj in the third quarter valued at about $55,000. Headlands Technologies LLC purchased a new stake in shares of Impinj during the fourth quarter worth about $58,000. Finally, Asset Management One Co. Ltd. increased its holdings in Impinj by 74.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock valued at $67,000 after purchasing an additional 524 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.