Impinj (NASDAQ:PI) Now Covered by Evercore ISI

Investment analysts at Evercore ISI started coverage on shares of Impinj (NASDAQ:PI) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm set an “outperform” rating and a $160.00 price target on the stock. Evercore ISI’s price objective indicates a potential upside of 33.23% from the company’s current price.

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

Impinj Stock Down 1.1 %

Impinj stock opened at $120.09 on Tuesday. Impinj has a twelve month low of $48.39 and a twelve month high of $142.70. The stock’s fifty day simple moving average is $115.86 and its 200-day simple moving average is $91.51. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. The firm has a market capitalization of $3.32 billion, a P/E ratio of -74.13 and a beta of 2.05.

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

Insider Activity

In other news, insider Cathal G. Phelan sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $106.23, for a total value of $1,062,300.00. Following the completion of the transaction, the insider now directly owns 21,750 shares in the company, valued at $2,310,502.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Cathal G. Phelan sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $106.23, for a total transaction of $1,062,300.00. Following the completion of the sale, the insider now directly owns 21,750 shares of the company’s stock, valued at $2,310,502.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Cary Baker sold 20,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were 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 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 sold 120,185 shares of company stock worth $12,767,674 over the last three months. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in Impinj by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company’s stock worth $9,577,000 after acquiring an additional 8,038 shares during the period. Aigen Investment Management LP bought a new position in Impinj in the 3rd quarter worth $320,000. FMR LLC raised its holdings in 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 acquiring an additional 31,289 shares during the period. AWM Investment Company Inc. raised its holdings in Impinj by 9.5% in the 3rd quarter. AWM Investment Company Inc. now owns 365,428 shares of the company’s stock worth $20,110,000 after acquiring an additional 31,556 shares during the period. Finally, Toronado Partners LLC raised its holdings in Impinj by 8.8% in the 3rd quarter. Toronado Partners LLC now owns 355,825 shares of the company’s stock worth $19,581,000 after acquiring an additional 28,700 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.