Impinj (NASDAQ:PI) PT Raised to $215.00 at Susquehanna

Impinj (NASDAQ:PI) had its price target raised by analysts at Susquehanna from $150.00 to $215.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price objective would indicate a potential upside of 21.00% from the stock’s previous close.

PI has been the topic of several other reports. Jefferies Financial Group initiated coverage on Impinj in a research report on Monday, May 13th. They set a “buy” rating and a $200.00 price target on the stock. Piper Sandler boosted their price target on shares of Impinj from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Evercore ISI assumed coverage on shares of Impinj in a research report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price objective for the company. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Finally, Roth Mkm lifted their price target on shares of Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $165.67.

Impinj Stock Performance

PI stock traded down $2.12 during trading on Wednesday, reaching $177.69. 21,579 shares of the company’s stock were exchanged, compared to its average volume of 417,243. The firm has a market cap of $4.92 billion, a PE ratio of -507.69 and a beta of 1.78. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29. Impinj has a 1-year low of $48.39 and a 1-year high of $179.95. The company’s fifty day moving average price is $160.60 and its 200-day moving average price is $129.98.

Impinj (NASDAQ:PI) last issued its quarterly earnings results 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 analyst estimates of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. On average, research analysts expect that Impinj will post 0.02 EPS for the current fiscal year.

Insider Activity at Impinj

In related news, COO Hussein Mecklai sold 416 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $175.43, for a total transaction of $72,978.88. Following the transaction, the chief operating officer now owns 58,104 shares of the company’s stock, valued at $10,193,184.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CRO Jeffrey Dossett sold 475 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $175.38, for a total value of $83,305.50. Following the sale, the executive now owns 63,642 shares of the company’s stock, valued at $11,161,533.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Hussein Mecklai sold 416 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $175.43, for a total transaction of $72,978.88. Following the completion of the sale, the chief operating officer now owns 58,104 shares in the company, valued at approximately $10,193,184.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,097,971 shares of company stock worth $167,900,777. 51.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Impinj

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Impinj in the 2nd quarter valued at about $566,000. Diversified Trust Co bought a new position in shares of Impinj in the 2nd quarter worth $315,000. Pachira Investments Inc. increased its holdings in Impinj by 34.3% in the second quarter. Pachira Investments Inc. now owns 3,131 shares of the company’s stock valued at $491,000 after purchasing an additional 800 shares during the last quarter. SG Americas Securities LLC lifted its stake in Impinj by 457.1% in the second quarter. SG Americas Securities LLC now owns 22,260 shares of the company’s stock valued at $3,490,000 after buying an additional 18,264 shares during the period. Finally, Jamison Private Wealth Management Inc. boosted its holdings in Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after buying an additional 549 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.