Impinj (NASDAQ:PI) PT Raised to $245.00

Impinj (NASDAQ:PI) had its price objective increased by Needham & Company LLC from $195.00 to $245.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently weighed in on PI. Piper Sandler restated an “overweight” rating and issued a $225.00 target price (up from $180.00) on shares of Impinj in a research note on Friday, September 27th. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Cantor Fitzgerald restated an “overweight” rating and set a $205.00 target price on shares of Impinj in a research note on Thursday, July 25th. Lake Street Capital boosted their price target on Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Evercore ISI raised their price objective on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $220.20.

Impinj Stock Performance

NASDAQ PI traded up $0.69 during trading hours on Thursday, hitting $192.90. 47,206 shares of the company’s stock were exchanged, compared to its average volume of 464,508. The business’s 50 day moving average is $195.60 and its 200-day moving average is $168.43. Impinj has a 12-month low of $58.56 and a 12-month high of $239.88. The firm has a market capitalization of $5.42 billion, a P/E ratio of 662.79 and a beta of 1.80.

Impinj (NASDAQ:PI) last posted its quarterly 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 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%. Impinj’s revenue was up 46.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.36) earnings per share. As a group, equities research analysts anticipate that Impinj will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Cathal G. Phelan sold 209 shares of Impinj stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total value of $43,712.35. Following the transaction, the insider now owns 17,647 shares in the company, valued at $3,690,870.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Impinj news, CFO Cary Baker sold 496 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total transaction of $103,748.32. Following the sale, the chief financial officer now owns 70,524 shares of the company’s stock, valued at $14,751,505.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cathal G. Phelan sold 209 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total transaction of $43,712.35. Following the completion of the transaction, the insider now directly owns 17,647 shares of the company’s stock, valued at approximately $3,690,870.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, 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 the business. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj in the first quarter valued at approximately $32,000. SouthState Corp acquired a new position in Impinj during the 2nd quarter worth approximately $94,000. nVerses Capital LLC boosted its position in Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after acquiring an additional 300 shares during the last quarter. Jamison Private Wealth Management Inc. grew its stake in shares of 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 acquiring an additional 549 shares in the last quarter. Finally, USA Financial Formulas grew its position in Impinj by 82.0% in the third 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.

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.