Impinj (NASDAQ:PI) Price Target Increased to $251.00 by Analysts at Lake Street Capital

Impinj (NASDAQ:PI) had its price target lifted by Lake Street Capital from $190.00 to $251.00 in a report released on Thursday, Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Several other research analysts have also issued reports on PI. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $205.00 target price on shares of Impinj in a research report on Thursday, July 25th. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research report on Thursday. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Susquehanna raised their price target on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday, October 21st. Finally, Piper Sandler reissued an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $224.60.

Impinj Stock Performance

PI stock opened at $200.70 on Thursday. The firm has a 50-day simple moving average of $196.40 and a two-hundred day simple moving average of $169.26. Impinj has a one year low of $58.56 and a one year high of $239.88. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 692.07 and a beta of 1.80.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. Impinj’s revenue was up 46.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.36) earnings per share. As a group, equities analysts predict that Impinj will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In related news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Impinj news, CRO Jeffrey Dossett sold 15,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $157.81, for a total value of $2,367,150.00. Following the completion of the transaction, the executive now owns 63,642 shares in the company, valued at approximately $10,043,344.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the transaction, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 21,779 shares of company stock valued at $3,825,046. 51.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Impinj

A number of large investors have recently made changes to their positions in the stock. First Bank & Trust boosted its stake in Impinj by 3.2% during the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after buying an additional 55 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Impinj by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after acquiring an additional 190 shares during the last quarter. Rhumbline Advisers increased its position in Impinj by 0.8% during the second quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after purchasing an additional 248 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in Impinj in the 1st quarter valued at about $32,000. Finally, Arizona State Retirement System increased its holdings in shares of Impinj by 4.1% during the 2nd quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock worth $1,032,000 after buying an additional 261 shares during the last quarter.

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.