Impinj (NASDAQ:PI) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Impinj (NASDAQ:PI) in a research report released on Thursday, Benzinga reports. The brokerage currently has a $150.00 price target on the stock, up from their previous price target of $130.00.

Several other research analysts have also recently commented on the stock. StockNews.com upgraded shares of Impinj to a sell rating in a report on Friday, February 9th. Evercore ISI assumed coverage on shares of Impinj in a report on Tuesday, April 16th. They set an outperform rating and a $160.00 target price for the company. Canaccord Genuity Group increased their target price on shares of Impinj from $130.00 to $150.00 and gave the stock a buy rating in a report on Thursday, March 14th. Susquehanna increased their target price on shares of Impinj from $130.00 to $140.00 and gave the stock a positive rating in a report on Tuesday, April 23rd. Finally, The Goldman Sachs Group increased their target price on shares of Impinj from $89.00 to $115.00 and gave the stock a buy rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $132.89.

Impinj Stock Down 3.0 %

Shares of PI stock opened at $150.91 on Thursday. The firm has a fifty day moving average of $119.23 and a 200-day moving average of $95.58. 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 has a 12-month low of $48.39 and a 12-month high of $156.41. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of -431.17 and a beta of 2.05.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The company had revenue of $76.83 million during the quarter, compared to the consensus estimate of $73.57 million. As a group, equities research analysts predict that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other news, CFO Cary Baker sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the completion of the sale, the chief financial officer now owns 55,432 shares in the company, valued at approximately $5,661,824.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Cary Baker sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the completion of the sale, the chief financial officer now owns 55,432 shares in the company, valued at approximately $5,661,824.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Chris Ph.D. Diorio sold 2,953 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $127.19, for a total transaction of $375,592.07. Following the sale, the chief executive officer now owns 284,349 shares of the company’s stock, valued at approximately $36,166,349.31. The disclosure for this sale can be found here. Insiders sold a total of 120,185 shares of company stock worth $12,767,674 over the last quarter. 17.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Impinj

A number of hedge funds have recently bought and sold shares of the business. K.J. Harrison & Partners Inc bought a new position in Impinj in the 4th quarter valued at about $1,458,000. Charles Schwab Investment Management Inc. increased its holdings in Impinj by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company’s stock valued at $9,577,000 after buying an additional 8,038 shares during the period. Aigen Investment Management LP bought a new position in Impinj in the 3rd quarter valued at about $320,000. FMR LLC increased its holdings in Impinj by 0.8% in the 3rd quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after buying an additional 31,289 shares during the period. Finally, Telemus Capital LLC bought a new position in Impinj in the 4th quarter valued at about $298,000.

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.