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

Impinj (NASDAQ:PI) had its price objective boosted by equities research analysts at The Goldman Sachs Group from $130.00 to $156.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 6.89% from the stock’s current price.

Several other research firms have also recently commented on PI. Roth Mkm boosted their target price on Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC upped their target price on shares of Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $150.00 price target (up previously from $130.00) on shares of Impinj in a research note on Thursday. Susquehanna boosted their price target on shares of Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a report on Tuesday. Finally, StockNews.com upgraded shares of Impinj to a “sell” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.89.

Impinj Trading Down 6.2 %

Shares of PI stock traded down $9.61 during trading hours on Friday, hitting $145.94. The company had a trading volume of 1,003,189 shares, compared to its average volume of 412,185. The company has a debt-to-equity ratio of 8.26, a current ratio of 8.73 and a quick ratio of 5.59. The stock has a market capitalization of $4.04 billion, a PE ratio of -418.09 and a beta of 2.05. The company’s fifty day moving average is $118.27 and its 200 day moving average is $94.35. Impinj has a fifty-two week low of $48.39 and a fifty-two week high of $156.41.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share (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 for the quarter, compared to the consensus estimate of $73.57 million. Research analysts expect that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Activity

In other Impinj news, CFO Cary Baker sold 1,062 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $127.61, for a total transaction of $135,521.82. Following the completion of the transaction, the chief financial officer now owns 67,384 shares in the company, valued at approximately $8,598,872.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Cary Baker sold 1,062 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $127.61, for a total transaction of $135,521.82. Following the completion of the transaction, the chief financial officer now directly owns 67,384 shares of the company’s stock, valued at approximately $8,598,872.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Jeffrey Dossett sold 4,858 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $101.11, for a total value of $491,192.38. Following the completion of the sale, the executive now directly owns 57,110 shares of the company’s stock, valued at $5,774,392.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 120,185 shares of company stock valued at $12,767,674. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Impinj

Hedge funds and other institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj during the 1st quarter worth $32,000. GAMMA Investing LLC purchased a new position in Impinj during the 4th quarter valued at about $40,000. Headlands Technologies LLC acquired a new position in Impinj during the fourth quarter worth about $58,000. Whittier Trust Co. purchased a new stake in shares of Impinj in the fourth quarter valued at about $90,000. Finally, Asset Management One Co. Ltd. grew its position in shares of Impinj by 74.6% in the third 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.

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.