Impinj (NASDAQ:PI) Now Covered by Evercore ISI

Equities researchers at Evercore ISI initiated coverage on shares of Impinj (NASDAQ:PI) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $160.00 price target on the stock. Evercore ISI’s target price would suggest a potential upside of 33.23% from the company’s current price.

Other research analysts have also recently issued reports about the company. Needham & Company LLC boosted their target price on Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. StockNews.com raised Impinj to a “sell” rating in a research note on Friday, February 9th. The Goldman Sachs Group boosted their target price on Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Susquehanna boosted their target price on Impinj from $115.00 to $130.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. Finally, Roth Mkm boosted their target price on Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.44.

Impinj Price Performance

PI stock opened at $120.09 on Tuesday. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. The company has a market capitalization of $3.32 billion, a PE ratio of -74.13 and a beta of 2.05. Impinj has a 12-month low of $48.39 and a 12-month high of $142.70. The business’s fifty day moving average price is $115.86 and its 200 day moving average price is $91.51.

Impinj (NASDAQ:PI) last posted 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 firm had revenue of $70.65 million for 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%. On average, sell-side analysts anticipate that Impinj will post -0.62 EPS for the current year.

Insider Transactions at Impinj

In related news, insider Cathal G. Phelan sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $106.23, for a total value of $1,062,300.00. Following the completion of the sale, the insider now directly owns 21,750 shares of the company’s stock, valued at approximately $2,310,502.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Cathal G. Phelan sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $106.23, for a total value of $1,062,300.00. Following the completion of the sale, the insider now directly owns 21,750 shares of the company’s stock, valued at approximately $2,310,502.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Cary Baker sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total value of $2,042,800.00. Following the completion of the sale, the chief financial officer now directly owns 55,432 shares of the company’s stock, valued at $5,661,824.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,185 shares of company stock valued at $12,767,674. 17.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Impinj

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sylebra Capital LLC acquired a new stake in shares of Impinj in the 3rd quarter valued at approximately $217,290,000. Capital International Investors acquired a new stake in shares of Impinj in the 4th quarter valued at approximately $68,211,000. Fred Alger Management LLC lifted its holdings in shares of Impinj by 249.6% in the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after buying an additional 568,301 shares during the period. Westfield Capital Management Co. LP raised its holdings in Impinj by 40.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock worth $56,260,000 after purchasing an additional 292,470 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Impinj by 16.5% during the first quarter. Invesco Ltd. now owns 1,189,985 shares of the company’s stock worth $75,610,000 after purchasing an additional 168,597 shares during the last quarter.

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.