Impinj (NASDAQ:PI) Stock Price Up 6.1% on Analyst Upgrade

Shares of Impinj, Inc. (NASDAQ:PI) shot up 6.1% on Friday after The Goldman Sachs Group raised their price target on the stock from $165.00 to $200.00. The Goldman Sachs Group currently has a neutral rating on the stock. Impinj traded as high as $206.00 and last traded at $203.89. 528,736 shares traded hands during trading, an increase of 13% from the average session volume of 466,757 shares. The stock had previously closed at $192.21.

A number of other equities analysts also recently issued reports on PI. Susquehanna increased their price target on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday. Cantor Fitzgerald upped their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Needham & Company LLC boosted their price target on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a research note on Thursday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Impinj presently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

Insider Buying and Selling

In other news, CEO Chris Ph.D. Diorio sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total value of $313,261.76. Following the sale, the chief executive officer now directly owns 292,532 shares in the company, valued at $61,174,291.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Chris Ph.D. Diorio sold 1,498 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total value of $313,261.76. Following the completion of the transaction, the chief executive officer now owns 292,532 shares of the company’s stock, valued at $61,174,291.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Cary Baker sold 496 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total transaction of $103,748.32. Following the transaction, the chief financial officer now directly owns 70,524 shares in the company, valued at $14,751,505.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,779 shares of company stock worth $3,825,046 in the last ninety days. Insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

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

Impinj Trading Up 6.1 %

The firm has a market capitalization of $5.73 billion, a PE ratio of 704.48 and a beta of 1.80. The firm has a 50-day moving average of $195.60 and a two-hundred day moving average of $168.43.

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

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.