The Goldman Sachs Group Increases Impinj (NASDAQ:PI) Price Target to $156.00

Impinj (NASDAQ:PI) had its price target raised by The Goldman Sachs Group from $130.00 to $156.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Susquehanna upped their price objective on Impinj from $130.00 to $140.00 and gave the stock a positive rating in a research report on Tuesday, April 23rd. Evercore ISI initiated coverage on Impinj in a research report on Tuesday, April 16th. They issued an outperform rating and a $160.00 price objective on the stock. Piper Sandler restated an overweight rating and issued a $150.00 price objective (up previously from $130.00) on shares of Impinj in a research report on Thursday. Canaccord Genuity Group upped their price objective on Impinj from $130.00 to $150.00 and gave the stock a buy rating in a research report on Thursday, March 14th. Finally, Roth Mkm upped their price objective on Impinj from $125.00 to $145.00 and gave the stock a buy rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Impinj presently has a consensus rating of Moderate Buy and an average price target of $132.89.

Impinj Trading Down 3.0 %

Shares of NASDAQ:PI opened at $150.91 on Friday. Impinj has a twelve month low of $48.39 and a twelve month high of $156.41. The company’s 50 day moving average is $119.23 and its 200 day moving average is $95.58. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29.

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

Insider Activity

In other news, insider Cathal G. Phelan sold 2,556 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $98.88, for a total transaction of $252,737.28. Following the transaction, the insider now owns 24,990 shares in the company, valued at approximately $2,471,011.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CRO Jeffrey Dossett sold 4,858 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $101.11, for a total value of $491,192.38. Following the completion of the transaction, the executive now directly owns 57,110 shares of the company’s stock, valued at approximately $5,774,392.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cathal G. Phelan sold 2,556 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $98.88, for a total value of $252,737.28. Following the completion of the transaction, the insider now directly owns 24,990 shares of the company’s stock, valued at $2,471,011.20. The disclosure for this sale can be found here. Insiders have sold 120,185 shares of company stock worth $12,767,674 in the last quarter. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. CWM LLC increased its stake in shares of Impinj by 68.3% in the 3rd quarter. CWM LLC now owns 6,157 shares of the company’s stock worth $339,000 after acquiring an additional 2,499 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Impinj by 101.9% in the 3rd quarter. SG Americas Securities LLC now owns 30,894 shares of the company’s stock worth $1,700,000 after acquiring an additional 15,591 shares during the last quarter. Avior Wealth Management LLC increased its stake in shares of Impinj by 35.8% in the 3rd quarter. Avior Wealth Management LLC now owns 4,665 shares of the company’s stock worth $257,000 after acquiring an additional 1,229 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Impinj by 74.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock worth $67,000 after acquiring an additional 524 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Impinj by 109.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,730 shares of the company’s stock worth $260,000 after acquiring an additional 2,476 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.