Impinj (NASDAQ:PI) Price Target Raised to $156.00

Impinj (NASDAQ:PI) had its target price upped by The Goldman Sachs Group from $130.00 to $156.00 in a research note issued to investors on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

PI has been the subject of several other reports. Piper Sandler reiterated an overweight rating and set a $150.00 target price (up from $130.00) on shares of Impinj in a research report on Thursday. Susquehanna lifted their target price on shares of Impinj from $130.00 to $140.00 and gave the company a positive rating in a research report on Tuesday, April 23rd. Canaccord Genuity Group lifted their target price on shares of Impinj from $130.00 to $150.00 and gave the company a buy rating in a research report on Thursday, March 14th. Roth Mkm lifted their target price on shares of Impinj from $125.00 to $145.00 and gave the company a buy rating in a research report on Thursday. Finally, Evercore ISI initiated coverage on shares of Impinj in a report on Tuesday, April 16th. They issued an outperform rating and a $160.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $132.89.

Impinj Stock Performance

Shares of NASDAQ:PI opened at $150.91 on Friday. The company has a 50 day moving average of $119.23 and a 200 day moving average of $95.58. Impinj has a 12 month low of $48.39 and a 12 month high of $156.41. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.14. The company had revenue of $76.83 million during the quarter, compared to analysts’ expectations of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. On average, sell-side analysts expect that Impinj will post -0.62 EPS for the current fiscal year.

Insider Activity at Impinj

In related news, CRO Jeffrey Dossett sold 4,858 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $101.11, for a total transaction of $491,192.38. Following the completion of the sale, the executive now directly owns 57,110 shares in the company, valued at approximately $5,774,392.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Impinj news, CRO Jeffrey Dossett sold 4,858 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $101.11, for a total transaction of $491,192.38. Following the transaction, the executive now directly owns 57,110 shares of the company’s stock, valued at approximately $5,774,392.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Cary Baker sold 1,062 shares of the business’s stock in a transaction on 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 directly owns 67,384 shares in the company, valued at $8,598,872.24. The disclosure for this sale can be found here. Insiders sold 120,185 shares of company stock worth $12,767,674 in the last three months. 17.10% of the stock is owned by insiders.

Institutional Trading of Impinj

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Effects LLC grew its position in shares of Impinj by 1.0% in the 1st quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock worth $1,945,000 after buying an additional 150 shares during the period. Deltec Asset Management LLC purchased a new stake in Impinj during the 1st quarter valued at about $584,000. Future Financial Wealth Managment LLC purchased a new stake in Impinj during the 1st quarter valued at about $32,000. Ghisallo Capital Management LLC purchased a new stake in Impinj during the 4th quarter valued at about $4,192,000. Finally, Prudential PLC purchased a new stake in Impinj during the 4th quarter valued at about $277,000.

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.