Impinj (NASDAQ:PI) Price Target Raised to $180.00

Impinj (NASDAQ:PI) had its target price upped by Piper Sandler from $150.00 to $180.00 in a research report released on Thursday, Marketbeat Ratings reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities analysts have also commented on the company. Needham & Company LLC reiterated a buy rating and issued a $195.00 target price on shares of Impinj in a research note on Wednesday, June 5th. StockNews.com cut shares of Impinj from a hold rating to a sell rating in a research report on Tuesday, May 21st. Jefferies Financial Group assumed coverage on shares of Impinj in a research report on Monday, May 13th. They set a buy rating and a $200.00 price target for the company. The Goldman Sachs Group downgraded shares of Impinj from a buy rating to a neutral rating and set a $156.00 price target on the stock. in a research note on Monday, May 20th. Finally, Susquehanna boosted their price objective on shares of Impinj from $130.00 to $140.00 and gave the company a positive rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Impinj currently has a consensus rating of Moderate Buy and a consensus target price of $157.33.

Impinj Stock Performance

Impinj stock opened at $169.29 on Thursday. 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 has a fifty-two week low of $48.39 and a fifty-two week high of $175.41. The stock’s fifty day moving average is $160.07 and its two-hundred day moving average is $128.21.

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. The firm had revenue of $76.83 million during the quarter, compared to the consensus estimate 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 forecast that Impinj will post 0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Chris Ph.D. Diorio sold 5,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $162.32, for a total value of $811,600.00. Following the completion of the transaction, the chief executive officer now owns 289,474 shares in the company, valued at approximately $46,987,419.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Impinj news, CEO Chris Ph.D. Diorio sold 5,000 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $162.32, for a total transaction of $811,600.00. Following the sale, the chief executive officer now directly owns 289,474 shares of the company’s stock, valued at approximately $46,987,419.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Jeffrey Dossett sold 498 shares of the company’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 $59,112.60. Following the transaction, the executive now directly owns 60,850 shares in the company, valued at $7,222,895. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,098,088 shares of company stock worth $167,776,596. 51.00% of the stock is owned by insiders.

Institutional Trading of Impinj

A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its stake in Impinj by 457.1% during the 2nd quarter. SG Americas Securities LLC now owns 22,260 shares of the company’s stock valued at $3,490,000 after purchasing an additional 18,264 shares during the period. Jamison Private Wealth Management Inc. boosted its position in shares of Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after acquiring an additional 549 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Impinj by 112.0% in the second quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock worth $2,122,000 after acquiring an additional 7,151 shares during the last quarter. First Bank & Trust bought a new position in Impinj during the second quarter worth $269,000. Finally, Quent Capital LLC raised its stake in Impinj by 12.0% during the 2nd quarter. Quent Capital LLC now owns 9,350 shares of the company’s stock valued at $1,466,000 after purchasing an additional 1,000 shares during the last quarter.

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.