Impinj (NASDAQ:PI) Price Target Increased to $200.00 by Analysts at The Goldman Sachs Group

Impinj (NASDAQ:PI) had its target price hoisted by stock analysts at The Goldman Sachs Group from $165.00 to $200.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 0.35% from the company’s previous close.

PI has been the subject of several other reports. Susquehanna lifted their target price on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. Needham & Company LLC lifted their price target on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday. Roth Mkm upped their price objective on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Piper Sandler reissued an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a report on Thursday. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.60.

Impinj Stock Performance

Impinj stock opened at $200.70 on Friday. Impinj has a fifty-two week low of $58.56 and a fifty-two week high of $239.88. The stock has a market cap of $5.64 billion, a P/E ratio of 692.07 and a beta of 1.80. The firm’s fifty day moving average price is $196.40 and its 200-day moving average price is $169.26.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The company’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.36) EPS. Sell-side analysts predict that Impinj will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other Impinj news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The shares were purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the purchase, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Jeffrey Dossett sold 15,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total value of $2,367,150.00. Following the completion of the sale, the executive now directly owns 63,642 shares of the company’s stock, valued at $10,043,344.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,779 shares of company stock valued at $3,825,046 over the last three months. 51.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Impinj

Large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. bought a new stake in shares of Impinj during the second quarter valued at approximately $103,252,000. Jennison Associates LLC bought a new stake in shares of Impinj during the 1st quarter valued at $25,747,000. Renaissance Technologies LLC purchased a new stake in shares of Impinj in the 2nd quarter worth about $30,116,000. TimesSquare Capital Management LLC bought a new position in shares of Impinj in the 1st quarter worth about $19,195,000. Finally, Lord Abbett & CO. LLC purchased a new position in Impinj during the 1st quarter valued at about $9,659,000.

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.