Impinj (NASDAQ:PI) Earns Outperform Rating from Analysts at Evercore ISI

Evercore ISI assumed coverage on shares of Impinj (NASDAQ:PI) in a report released on Tuesday, Marketbeat reports. The brokerage issued an outperform rating and a $160.00 price objective on the stock.

Several other equities analysts have also issued reports on PI. Roth Mkm boosted their price target on Impinj from $115.00 to $125.00 and gave the company a buy rating in a research note on Thursday, March 14th. The Goldman Sachs Group upped their price objective on Impinj from $89.00 to $115.00 and gave the company a buy rating in a research note on Friday, February 9th. Susquehanna upped their price objective on Impinj from $115.00 to $130.00 and gave the company a positive rating in a research note on Friday, February 9th. StockNews.com upgraded Impinj to a sell rating in a research note on Friday, February 9th. Finally, Canaccord Genuity Group upped their price objective on Impinj from $130.00 to $150.00 and gave the company a buy rating in a research note on Thursday, March 14th. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $119.44.

Impinj Price Performance

Shares of PI opened at $122.08 on Tuesday. Impinj has a 12-month low of $48.39 and a 12-month 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 stock’s 50-day moving average price is $116.17 and its 200 day moving average price is $91.72.

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

Insider Buying and Selling

In related news, CRO Jeffrey Dossett sold 4,858 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $101.11, for a total transaction of $491,192.38. Following the sale, the executive now directly owns 57,110 shares in the company, valued at approximately $5,774,392.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Impinj news, CRO Jeffrey Dossett sold 4,858 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $101.11, for a total transaction of $491,192.38. Following the transaction, the executive now owns 57,110 shares of the company’s stock, valued at approximately $5,774,392.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Cary Baker sold 1,062 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $127.61, for a total value of $135,521.82. Following the transaction, the chief financial officer now directly owns 67,384 shares in the company, valued at approximately $8,598,872.24. 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 three months. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Sylebra Capital LLC boosted its position in shares of Impinj by 6.3% in the 4th quarter. Sylebra Capital LLC now owns 4,197,352 shares of the company’s stock worth $377,888,000 after purchasing an additional 248,786 shares during the last quarter. FMR LLC boosted its position in shares of Impinj by 0.8% in the 3rd quarter. FMR LLC now owns 4,028,894 shares of the company’s stock worth $221,710,000 after purchasing an additional 31,289 shares during the last quarter. Sylebra Capital Ltd boosted its position in shares of Impinj by 4.1% in the 1st quarter. Sylebra Capital Ltd now owns 2,848,085 shares of the company’s stock worth $385,972,000 after purchasing an additional 111,697 shares during the last quarter. BlackRock Inc. boosted its position in shares of Impinj by 1.5% in the 1st quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock worth $89,758,000 after purchasing an additional 20,404 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Impinj by 13.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,251,084 shares of the company’s stock worth $100,124,000 after purchasing an additional 153,039 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.