Impinj (NASDAQ:PI) Given New $260.00 Price Target at Cantor Fitzgerald

Impinj (NASDAQ:PI) had its target price boosted by Cantor Fitzgerald from $205.00 to $260.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the company. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Needham & Company LLC upped their price target on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday. Susquehanna increased their price objective on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Evercore ISI restated an “outperform” rating and set a $270.00 target price (up previously from $205.00) on shares of Impinj in a research note on Thursday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Impinj presently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Impinj Trading Up 4.4 %

PI opened at $200.70 on Thursday. Impinj has a 12-month low of $58.56 and a 12-month high of $239.88. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 692.07 and a beta of 1.80. The company’s 50 day moving average is $196.40 and its 200 day moving average is $169.26.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The firm had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. During the same quarter in the previous year, the firm posted ($0.36) EPS. The company’s revenue for the quarter was up 46.5% compared to the same quarter last year. As a group, analysts predict that Impinj will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Cary Baker sold 366 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.83, for a total value of $87,045.78. Following the completion of the sale, the chief financial officer now directly owns 71,096 shares of the company’s stock, valued at $16,908,761.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Cary Baker sold 366 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $237.83, for a total transaction of $87,045.78. Following the completion of the sale, the chief financial officer now directly owns 71,096 shares of the company’s stock, valued at approximately $16,908,761.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,779 shares of company stock worth $3,825,046. Corporate insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

A number of institutional investors and hedge funds have recently modified their holdings of PI. Future Financial Wealth Managment LLC purchased a new stake in Impinj in the 1st quarter valued at about $32,000. SouthState Corp purchased a new stake in shares of Impinj in the second quarter valued at approximately $94,000. nVerses Capital LLC grew its stake in Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after purchasing an additional 300 shares in the last quarter. Jamison Private Wealth Management Inc. increased its holdings in Impinj by 211.2% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after purchasing an additional 549 shares during the period. Finally, USA Financial Formulas raised its position in Impinj by 82.0% during the 3rd quarter. USA Financial Formulas now owns 657 shares of the company’s stock valued at $142,000 after purchasing an additional 296 shares in 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.