Impinj (NASDAQ:PI) Research Coverage Started at Evercore ISI

Evercore ISI assumed coverage on shares of Impinj (NASDAQ:PI) in a research report report published on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $160.00 price objective on the stock.

Several other equities analysts also recently weighed in on PI. Roth Mkm raised their price objective on Impinj from $115.00 to $125.00 and gave the company a buy rating in a research note on Thursday, March 14th. Needham & Company LLC raised their price objective on Impinj from $120.00 to $130.00 and gave the company a buy rating in a research note on Thursday, March 14th. The Goldman Sachs Group raised their price objective on Impinj from $89.00 to $115.00 and gave the company a buy rating in a research note on Friday, February 9th. Canaccord Genuity Group raised their price objective on Impinj from $130.00 to $150.00 and gave the company a buy rating in a research note on Thursday, March 14th. Finally, Susquehanna raised their price objective on Impinj from $115.00 to $130.00 and gave the company a positive rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat.com, Impinj presently has a consensus rating of Moderate Buy and an average target price of $119.44.

Impinj Stock Performance

Shares of PI stock opened at $121.39 on Tuesday. The company has a market cap of $3.36 billion, a price-to-earnings ratio of -74.93 and a beta of 2.05. The stock has a 50 day simple moving average of $115.60 and a 200-day simple moving average of $91.31. Impinj has a 12-month low of $48.39 and a 12-month high of $142.70. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.11. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. The firm had revenue of $70.65 million during the quarter, compared to the consensus estimate of $67.10 million. On average, equities analysts forecast that Impinj will post -0.62 EPS for the current year.

Insider Buying and Selling at Impinj

In other news, COO Hussein Mecklai sold 30,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the sale, the chief operating officer now owns 40,489 shares in the company, valued at $4,243,247.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Hussein Mecklai sold 30,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the sale, the chief operating officer now owns 40,489 shares in the company, valued at $4,243,247.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cary Baker sold 1,062 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $127.61, for a total value of $135,521.82. Following the sale, the chief financial officer now owns 67,384 shares in the company, valued at approximately $8,598,872.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,634 shares of company stock worth $12,464,886. 17.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Impinj

Several hedge funds have recently made changes to their positions in PI. Future Financial Wealth Managment LLC acquired a new position in Impinj in the first quarter valued at $32,000. GAMMA Investing LLC acquired a new position in Impinj in the fourth quarter valued at $40,000. KBC Group NV acquired a new position in Impinj in the fourth quarter valued at $47,000. Advisors Asset Management Inc. acquired a new position in Impinj in the first quarter valued at $39,000. Finally, Headlands Technologies LLC acquired a new position in Impinj in the fourth quarter valued at $58,000.

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.