Impinj (NASDAQ:PI) PT Raised to $140.00 at Susquehanna

Impinj (NASDAQ:PI) had its target price raised by Susquehanna from $130.00 to $140.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a positive rating on the stock.

A number of other equities analysts have also recently weighed in on PI. Needham & Company LLC upped their price objective on shares of Impinj from $120.00 to $130.00 and gave the stock a buy rating in a research report on Thursday, March 14th. The Goldman Sachs Group increased their target price on shares of Impinj from $89.00 to $115.00 and gave the company a buy rating in a research report on Friday, February 9th. Roth Mkm increased their target price on shares of Impinj from $115.00 to $125.00 and gave the company a buy rating in a research report on Thursday, March 14th. Canaccord Genuity Group increased their target price on shares of Impinj from $130.00 to $150.00 and gave the company a buy rating in a research report on Thursday, March 14th. Finally, StockNews.com upgraded shares of Impinj to a sell rating in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $132.89.

Impinj Stock Performance

NASDAQ:PI opened at $150.91 on Tuesday. 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 company has a fifty day moving average of $119.23 and a two-hundred day moving average of $95.02. The stock has a market capitalization of $4.17 billion, a PE ratio of -431.17 and a beta of 2.05. 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 for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. The company had revenue of $76.83 million during the quarter, compared to analysts’ expectations of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 81.75%. As a group, research analysts forecast that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Hussein Mecklai sold 30,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the completion of the sale, the chief operating officer now directly owns 40,489 shares in the company, valued at $4,243,247.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Hussein Mecklai sold 30,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the completion of the sale, the chief operating officer now directly owns 40,489 shares in the company, valued at $4,243,247.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Cary Baker sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the sale, the chief financial officer now owns 55,432 shares of the company’s stock, valued at $5,661,824.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,185 shares of company stock worth $12,767,674. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PI. Future Financial Wealth Managment LLC purchased a new position in Impinj during the first quarter worth about $32,000. GAMMA Investing LLC purchased a new position in Impinj during the fourth quarter worth about $40,000. Newbridge Financial Services Group Inc. purchased a new position in Impinj during the third quarter worth about $55,000. Headlands Technologies LLC purchased a new position in Impinj during the fourth quarter worth about $58,000. Finally, Asset Management One Co. Ltd. boosted its stake in Impinj by 74.6% during the third quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock worth $67,000 after buying an additional 524 shares during the period.

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.