Brokerages Set Impinj, Inc. (NASDAQ:PI) Price Target at $143.10

Impinj, Inc. (NASDAQ:PI) has been given an average rating of “Moderate Buy” by the eight research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $154.00.

A number of research analysts have recently weighed in on PI shares. Canaccord Genuity Group raised their price objective on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 price objective (up previously from $130.00) on shares of Impinj in a research note on Thursday, April 25th. Evercore ISI assumed coverage on shares of Impinj in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 target price for the company. Finally, Jefferies Financial Group assumed coverage on shares of Impinj in a research note on Monday, May 13th. They set a “buy” rating and a $200.00 price target on the stock.

Insider Activity

In related news, insider Cathal G. Phelan sold 212 shares of Impinj stock in a transaction on Monday, June 24th. The stock was sold at an average price of $147.52, for a total value of $31,274.24. Following the transaction, the insider now owns 16,669 shares in the company, valued at $2,459,010.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Cary Baker sold 374 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $118.70, for a total value of $44,393.80. Following the transaction, the chief financial officer now owns 67,948 shares of the company’s stock, valued at approximately $8,065,427.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Cathal G. Phelan sold 212 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $147.52, for a total transaction of $31,274.24. Following the sale, the insider now directly owns 16,669 shares of the company’s stock, valued at $2,459,010.88. The disclosure for this sale can be found here. Insiders sold 1,088,088 shares of company stock valued at $166,194,846 in the last ninety days. Company insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Impinj by 2.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock valued at $462,000 after purchasing an additional 115 shares during the period. Wealth Effects LLC boosted its position in Impinj by 1.0% in the 1st quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock valued at $1,945,000 after buying an additional 150 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj during the first quarter worth about $32,000. ProShare Advisors LLC lifted its stake in shares of Impinj by 8.5% in the first quarter. ProShare Advisors LLC now owns 4,194 shares of the company’s stock worth $539,000 after acquiring an additional 330 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Impinj by 0.9% in the first quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $5,830,000 after purchasing an additional 400 shares during the last quarter.

Impinj Stock Performance

NASDAQ PI opened at $156.77 on Wednesday. The business has a 50 day moving average price of $156.92 and a 200 day moving average price of $123.55. The company has a market capitalization of $4.34 billion, a P/E ratio of -447.91 and a beta of 1.80. Impinj has a 1-year low of $48.39 and a 1-year high of $175.41. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 6.87.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. The business had revenue of $76.83 million during the quarter, compared to analysts’ expectations of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. Sell-side analysts expect that Impinj will post 0.02 EPS for the current fiscal year.

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.