Impinj (NASDAQ:PI) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI assumed coverage on shares of Impinj (NASDAQ:PI) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $160.00 target price on the stock.

PI has been the topic of several other reports. StockNews.com raised shares of Impinj to a sell rating in a research note on Friday, February 9th. The Goldman Sachs Group increased their target price on shares of Impinj from $89.00 to $115.00 and gave the stock a buy rating in a research note on Friday, February 9th. Roth Mkm increased their target price on shares of Impinj from $115.00 to $125.00 and gave the stock a buy rating in a research note on Thursday, March 14th. Canaccord Genuity Group increased their target price on shares of Impinj from $130.00 to $150.00 and gave the stock a buy rating in a research note on Thursday, March 14th. Finally, Needham & Company LLC increased their target price on shares of Impinj from $120.00 to $130.00 and gave the stock a buy rating in a research note on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, Impinj presently has a consensus rating of Moderate Buy and an average target price of $119.44.

Impinj Price Performance

NASDAQ:PI opened at $121.39 on Tuesday. Impinj has a one year low of $48.39 and a one year high of $142.70. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.59 and a current ratio of 8.73. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -74.93 and a beta of 2.05. The firm’s fifty day moving average is $115.60 and its two-hundred day moving average is $91.31.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The company had revenue of $70.65 million for the quarter, compared to analyst estimates of $67.10 million. Research analysts expect that Impinj will post -0.62 EPS for the current year.

Insider Buying and Selling

In other Impinj news, insider Cathal G. Phelan sold 841 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.83, for a total value of $106,664.03. Following the completion of the sale, the insider now owns 25,801 shares in the company, valued at approximately $3,272,340.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Impinj news, insider Cathal G. Phelan sold 841 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.83, for a total value of $106,664.03. Following the completion of the sale, the insider now owns 25,801 shares in the company, valued at approximately $3,272,340.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Cary Baker sold 306 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $123.55, for a total transaction of $37,806.30. Following the completion of the sale, the chief financial officer now owns 65,748 shares of the company’s stock, valued at approximately $8,123,165.40. The disclosure for this sale can be found here. Insiders sold a total of 117,634 shares of company stock worth $12,464,886 in the last 90 days. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC purchased a new stake in Impinj in the first quarter valued at $32,000. American International Group Inc. raised its position in Impinj by 1.1% in the fourth quarter. American International Group Inc. now owns 11,601 shares of the company’s stock valued at $1,044,000 after purchasing an additional 122 shares during the period. Price T Rowe Associates Inc. MD raised its position in Impinj by 4.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,977 shares of the company’s stock valued at $1,259,000 after purchasing an additional 654 shares during the period. Sylebra Capital LLC raised its position in Impinj by 6.3% in the fourth quarter. Sylebra Capital LLC now owns 4,197,352 shares of the company’s stock valued at $377,888,000 after purchasing an additional 248,786 shares during the period. Finally, Legal & General Group Plc raised its position in Impinj by 10.7% in the fourth quarter. Legal & General Group Plc now owns 23,993 shares of the company’s stock valued at $2,160,000 after purchasing an additional 2,326 shares during the period.

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.