Impinj (NASDAQ:PI) PT Raised to $156.00 at The Goldman Sachs Group

Impinj (NASDAQ:PI) had its price objective boosted by investment analysts at The Goldman Sachs Group from $130.00 to $156.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 3.37% from the stock’s current price.

Several other research firms have also commented on PI. Canaccord Genuity Group boosted their price target on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. StockNews.com raised Impinj to a “sell” rating in a research report on Friday, February 9th. Needham & Company LLC upped their target price on Impinj from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler reaffirmed an “overweight” rating and issued a $150.00 target price (up from $130.00) on shares of Impinj in a research report on Thursday. Finally, Susquehanna upped their target price on Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.89.

Impinj Stock Down 3.0 %

Shares of NASDAQ:PI opened at $150.91 on Friday. The company has a debt-to-equity ratio of 3.29, a quick ratio of 5.59 and a current ratio of 9.42. Impinj has a 1 year low of $48.39 and a 1 year high of $156.41. The stock has a market capitalization of $4.18 billion, a P/E ratio of -431.17 and a beta of 2.05. The stock has a 50-day simple moving average of $119.23 and a 200-day simple moving average of $95.29.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.14. The firm had revenue of $76.83 million for 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%. Equities analysts forecast that Impinj will post -0.62 earnings per share for the current year.

Insider Activity at Impinj

In related news, CRO Jeffrey Dossett sold 4,858 shares of the company’s 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 of the company’s stock, valued at approximately $5,774,392.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related 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 completion of the transaction, the executive now directly owns 57,110 shares in the company, valued at approximately $5,774,392.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Cary Baker sold 20,000 shares of the company’s stock in a transaction on 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 owns 55,432 shares of the company’s stock, valued at $5,661,824.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,185 shares of company stock valued at $12,767,674. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wealth Effects LLC grew its stake in shares of Impinj by 1.0% in the first quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock worth $1,945,000 after purchasing an additional 150 shares in the last quarter. Deltec Asset Management LLC acquired a new stake in shares of Impinj in the first quarter valued at $584,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj in the first quarter valued at $32,000. Ghisallo Capital Management LLC acquired a new stake in shares of Impinj in the fourth quarter valued at $4,192,000. Finally, Prudential PLC acquired a new stake in shares of Impinj in the fourth quarter valued at $277,000.

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.