Impinj (NASDAQ:PI) PT Raised to $160.00 at Needham & Company LLC

Impinj (NASDAQ:PI) had its price target lifted by Needham & Company LLC from $130.00 to $160.00 in a report published on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other analysts have also issued reports on PI. Canaccord Genuity Group lifted their price target on Impinj from $130.00 to $150.00 and gave the stock 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. The Goldman Sachs Group lifted their price target on Impinj from $89.00 to $115.00 and gave the stock a buy rating in a research note on Friday, February 9th. Roth Mkm lifted their price target on Impinj from $115.00 to $125.00 and gave the stock a buy rating in a research note on Thursday, March 14th. Finally, Evercore ISI began coverage on Impinj in a research note on Tuesday, April 16th. They set an outperform rating and a $160.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $132.89.

Impinj Stock Down 3.0 %

Shares of PI stock opened at $150.91 on Thursday. The stock has a 50 day moving average of $119.23 and a 200 day moving average of $95.58. The company has a current ratio of 9.42, a quick ratio of 5.59 and a debt-to-equity ratio of 3.29. The stock has a market cap of $4.18 billion, a P/E ratio of -431.17 and a beta of 2.05. Impinj has a twelve month low of $48.39 and a twelve month high of $156.41.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, beating 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 company had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. As a group, sell-side analysts expect that Impinj will post -0.62 EPS for the current year.

Insiders Place Their Bets

In other Impinj news, CFO Cary Baker sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the sale, the chief financial officer now owns 55,432 shares in the company, valued at approximately $5,661,824.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Chris Ph.D. Diorio sold 16,060 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $101.16, for a total transaction of $1,624,629.60. Following the completion of the transaction, the chief executive officer now directly owns 278,863 shares of the company’s stock, valued at approximately $28,209,781.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Cary Baker sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total value of $2,042,800.00. Following the transaction, the chief financial officer now directly owns 55,432 shares of the company’s stock, valued at $5,661,824.48. The disclosure for this sale can be found here. Insiders have sold a total of 120,185 shares of company stock worth $12,767,674 in the last quarter. 17.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds 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 1st quarter valued at about $32,000. GAMMA Investing LLC acquired a new stake in shares of Impinj in the 4th quarter valued at about $40,000. Newbridge Financial Services Group Inc. purchased a new stake in Impinj during the 3rd quarter valued at approximately $55,000. Headlands Technologies LLC purchased a new stake in Impinj during the 4th quarter valued at approximately $58,000. Finally, Asset Management One Co. Ltd. raised its stake in Impinj by 74.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock valued at $67,000 after acquiring an additional 524 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.