Impinj (NASDAQ:PI) Coverage Initiated at Jefferies Financial Group

Research analysts at Jefferies Financial Group assumed coverage on shares of Impinj (NASDAQ:PIGet Free Report) in a report released on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $200.00 price target on the stock. Jefferies Financial Group’s target price suggests a potential upside of 19.01% from the company’s previous close.

Several other brokerages have also commented on PI. Evercore ISI started coverage on shares of Impinj in a research report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price target for the company. Roth Mkm increased their target price on Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Needham & Company LLC boosted their price target on Impinj from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Piper Sandler restated an “overweight” rating and issued a $150.00 price objective (up from $130.00) on shares of Impinj in a report on Thursday, April 25th. Finally, The Goldman Sachs Group boosted their target price on Impinj from $130.00 to $156.00 and gave the stock a “buy” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $139.60.

Read Our Latest Analysis on Impinj

Impinj Trading Up 5.2 %

Impinj stock opened at $168.06 on Monday. The stock has a 50-day moving average price of $132.61 and a 200 day moving average price of $104.63. Impinj has a 52 week low of $48.39 and a 52 week high of $168.72. The stock has a market cap of $4.66 billion, a PE ratio of -480.17 and a beta of 1.85. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29.

Impinj (NASDAQ:PIGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. The business had revenue of $76.83 million during the quarter, compared to the consensus estimate of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. Equities research analysts predict that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at Impinj

In other Impinj news, CFO Cary Baker sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $159.08, for a total value of $1,590,800.00. Following the completion of the transaction, the chief financial officer now directly owns 67,948 shares of the company’s stock, valued at approximately $10,809,167.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Cary Baker sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $159.08, for a total transaction of $1,590,800.00. Following the completion of the sale, the chief financial officer now owns 67,948 shares of the company’s stock, valued at $10,809,167.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Hussein Mecklai sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $154.38, for a total transaction of $771,900.00. Following the completion of the sale, the chief operating officer now directly owns 55,414 shares in the company, valued at $8,554,813.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,321 shares of company stock valued at $17,034,914. Corporate insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its position in shares of Impinj by 109.8% during the third quarter. Commonwealth Equity Services LLC now owns 4,730 shares of the company’s stock worth $260,000 after acquiring an additional 2,476 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Impinj by 13.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 26,579 shares of the company’s stock valued at $1,463,000 after purchasing an additional 3,098 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Impinj by 17.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the company’s stock valued at $276,000 after buying an additional 748 shares during the last quarter. Jacob Asset Management of New York LLC raised its holdings in shares of Impinj by 43.5% during the third quarter. Jacob Asset Management of New York LLC now owns 17,209 shares of the company’s stock valued at $947,000 after buying an additional 5,220 shares during the last quarter. Finally, EFG Asset Management North America Corp. boosted its position in shares of Impinj by 25.0% during the third quarter. EFG Asset Management North America Corp. now owns 13,508 shares of the company’s stock worth $743,000 after buying an additional 2,701 shares during the period.

Impinj Company Profile

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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.

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Analyst Recommendations for Impinj (NASDAQ:PI)

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