Impinj (NASDAQ:PI) Stock Rating Reaffirmed by Piper Sandler

Impinj (NASDAQ:PI)‘s stock had its “overweight” rating restated by analysts at Piper Sandler in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $150.00 price objective on the stock, up from their prior price objective of $130.00. Piper Sandler’s target price points to a potential downside of 0.60% from the company’s current price.

PI has been the topic of a number of other research reports. The Goldman Sachs Group increased their price target on Impinj from $89.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Susquehanna increased their price target on Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research note on Tuesday. Canaccord Genuity Group increased their price target on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. StockNews.com raised Impinj to a “sell” rating in a research note on Friday, February 9th. Finally, Needham & Company LLC increased their price target on Impinj from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Impinj has an average rating of “Moderate Buy” and an average price target of $132.89.

Impinj Trading Down 3.0 %

NASDAQ:PI opened at $150.91 on Thursday. The stock’s fifty day moving average price is $119.23 and its two-hundred day moving average price is $95.02. Impinj has a 52-week low of $48.39 and a 52-week high of $156.41. The company has a quick ratio of 5.59, a current ratio of 9.42 and a debt-to-equity ratio of 3.29.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.14. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The firm had revenue of $76.83 million for the quarter, compared to the consensus estimate of $73.57 million. On average, research analysts forecast that Impinj will post -0.62 EPS for the current year.

Insider Buying and Selling

In other Impinj news, CFO Cary Baker sold 306 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $123.55, for a total transaction of $37,806.30. Following the completion of the transaction, the chief financial officer now owns 65,748 shares in the company, valued at approximately $8,123,165.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Impinj news, insider Cathal G. Phelan sold 2,556 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $98.88, for a total transaction of $252,737.28. Following the completion of the transaction, the insider now owns 24,990 shares in the company, valued at approximately $2,471,011.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Cary Baker sold 306 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $123.55, for a total value of $37,806.30. Following the transaction, 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. In the last quarter, insiders have sold 120,185 shares of company stock valued at $12,767,674. 17.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Impinj

Several hedge funds have recently modified their holdings of PI. Sylebra Capital LLC bought a new position in shares of Impinj in the 3rd quarter valued at about $217,290,000. Capital International Investors bought a new position in shares of Impinj in the 4th quarter valued at about $68,211,000. Fred Alger Management LLC grew its holdings in shares of Impinj by 249.6% in the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after acquiring an additional 568,301 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Impinj by 40.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after acquiring an additional 292,470 shares in the last quarter. Finally, Sora Investors LLC bought a new position in shares of Impinj in the 3rd quarter valued at about $9,080,000.

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.