Impinj (NASDAQ:PI) PT Raised to $160.00 at Needham & Company LLC

Impinj (NASDAQ:PI) had its price target hoisted by stock analysts at Needham & Company LLC from $130.00 to $160.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 6.02% from the company’s previous close.

PI has been the subject of several other research reports. Susquehanna raised their target price on Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research note on Tuesday. The Goldman Sachs Group raised their target price on Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. StockNews.com raised Impinj to a “sell” rating in a research note on Friday, February 9th. Roth Mkm raised their target price on Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, Canaccord Genuity Group lifted 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. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.89.

Impinj Price Performance

NASDAQ:PI opened at $150.91 on Thursday. Impinj has a one year low of $48.39 and a one year high of $156.41. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.59 and a current ratio of 8.73. The stock has a market cap of $4.17 billion, a PE ratio of -431.17 and a beta of 2.05. The stock has a 50 day moving average price of $119.23 and a 200 day moving average price of $95.02.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.14. Impinj had a negative return on equity of 81.75% and a negative net margin of 1.90%. The firm had revenue of $76.83 million during the quarter, compared to analysts’ expectations of $73.57 million. Equities research analysts expect that Impinj will post -0.62 EPS for the current fiscal year.

Insider Activity at Impinj

In related news, CFO Cary Baker sold 1,062 shares of Impinj 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 completion of the transaction, the chief financial officer now directly owns 67,384 shares in the company, valued at $8,598,872.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Impinj news, COO Hussein Mecklai sold 435 shares of Impinj stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $118.75, for a total transaction of $51,656.25. Following the completion of the sale, the chief operating officer now directly owns 55,414 shares of the company’s stock, valued at approximately $6,580,412.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Cary Baker sold 1,062 shares of Impinj stock in a transaction dated 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 directly owns 67,384 shares of the company’s stock, valued at $8,598,872.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 120,185 shares of company stock worth $12,767,674. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Impinj

Institutional investors have recently bought and sold shares of the business. CWM LLC lifted its holdings in shares of Impinj by 68.3% in the 3rd quarter. CWM LLC now owns 6,157 shares of the company’s stock valued at $339,000 after purchasing an additional 2,499 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Impinj by 101.9% in the 3rd quarter. SG Americas Securities LLC now owns 30,894 shares of the company’s stock valued at $1,700,000 after purchasing an additional 15,591 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Impinj by 35.8% in the 3rd quarter. Avior Wealth Management LLC now owns 4,665 shares of the company’s stock valued at $257,000 after purchasing an additional 1,229 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Impinj in the 3rd quarter valued at about $55,000. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Impinj by 74.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock valued at $67,000 after purchasing an additional 524 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.