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

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

Other analysts also recently issued research reports about the company. Needham & Company LLC lifted their target price on Impinj from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com raised Impinj to a “sell” rating in a research note on Friday, February 9th. Roth Mkm boosted their price objective on Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Susquehanna boosted their price objective on Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research note on Tuesday. Finally, Evercore ISI began coverage on Impinj in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Impinj currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.89.

Impinj Stock Performance

NASDAQ:PI opened at $150.91 on Thursday. Impinj has a 12-month low of $48.39 and a 12-month high of $156.41. The company has a debt-to-equity ratio of 3.29, a quick ratio of 5.59 and a current ratio of 9.42. The business has a 50 day simple moving average of $119.23 and a 200 day simple moving average of $95.02.

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

Insider Buying and Selling

In related news, insider Cathal G. Phelan sold 2,556 shares of Impinj stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $98.88, for a total value of $252,737.28. Following the transaction, the insider now directly 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 accessible through this hyperlink. In other news, CRO Jeffrey Dossett sold 4,858 shares of Impinj 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 in the company, valued at $5,774,392.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cathal G. Phelan sold 2,556 shares of Impinj 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 transaction, the insider now owns 24,990 shares in the company, valued at approximately $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 three months. 17.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PI. Sylebra Capital LLC purchased a new position in Impinj in the third quarter valued at about $217,290,000. Capital International Investors purchased a new position in Impinj in the fourth quarter valued at about $68,211,000. Fred Alger Management LLC grew its stake in Impinj by 249.6% in the third quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after purchasing an additional 568,301 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in Impinj by 40.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after purchasing an additional 292,470 shares in the last quarter. Finally, Sora Investors LLC purchased a new position in Impinj in the third 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.