Lake Street Capital Boosts Impinj (NASDAQ:PI) Price Target to $251.00

Impinj (NASDAQ:PI) had its price target upped by Lake Street Capital from $190.00 to $251.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

PI has been the subject of several other reports. Needham & Company LLC increased their price objective on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday. Susquehanna increased their price target on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday. Roth Mkm raised their price target on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $205.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Finally, StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $220.20.

Impinj Stock Up 2.3 %

Shares of Impinj stock traded up $4.35 during trading on Thursday, hitting $196.56. The stock had a trading volume of 88,703 shares, compared to its average volume of 464,708. The company has a market capitalization of $5.53 billion, a PE ratio of 662.79 and a beta of 1.80. Impinj has a 1 year low of $58.56 and a 1 year high of $239.88. The stock has a 50 day simple moving average of $195.60 and a 200 day simple moving average of $168.43.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company’s revenue was up 46.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.36) EPS. As a group, equities analysts expect that Impinj will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In other Impinj news, CFO Cary Baker sold 366 shares of the business’s stock in a transaction dated 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 owns 71,096 shares of the company’s stock, valued at $16,908,761.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Cary Baker sold 366 shares of Impinj stock in a transaction on 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 transaction, the chief financial officer now owns 71,096 shares in the company, valued at $16,908,761.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,779 shares of company stock worth $3,825,046. 51.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Impinj

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj in the first quarter worth $32,000. SouthState Corp acquired a new stake in Impinj in the 2nd quarter worth $94,000. USA Financial Formulas increased its holdings in shares of Impinj by 82.0% during the 3rd quarter. USA Financial Formulas now owns 657 shares of the company’s stock worth $142,000 after purchasing an additional 296 shares during the period. nVerses Capital LLC raised its position in shares of Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after buying an additional 300 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. raised its position in shares of Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after buying an additional 549 shares during 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.