Impinj (NASDAQ:PI) Receives “Outperform” Rating from Evercore ISI

Evercore ISI reiterated their outperform rating on shares of Impinj (NASDAQ:PI) in a research report report published on Thursday, Benzinga reports. Evercore ISI currently has a $270.00 price objective on the stock, up from their prior price objective of $205.00.

A number of other equities analysts have also recently commented on PI. Roth Mkm lifted their price target on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Susquehanna upped their price target on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday. Piper Sandler reissued an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a report on Thursday. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Lake Street Capital raised their target price on Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Impinj currently has a consensus rating of “Moderate Buy” and an average target price of $220.20.

Impinj Stock Up 2.3 %

Shares of NASDAQ PI traded up $4.35 during mid-day trading on Thursday, reaching $196.56. 88,703 shares of the company were exchanged, compared to its average volume of 464,708. Impinj has a 52 week low of $58.56 and a 52 week high of $239.88. The stock has a market capitalization of $5.53 billion, a PE ratio of 662.79 and a beta of 1.80. The company’s 50 day moving average price is $195.60 and its 200 day moving average price is $168.43.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. Impinj’s revenue for the quarter was up 46.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.36) EPS. On average, sell-side analysts predict that Impinj will post 0.31 earnings per share for the current year.

Insider Transactions at Impinj

In other news, CFO Cary Baker sold 496 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total transaction of $103,748.32. Following the transaction, the chief financial officer now directly owns 70,524 shares of the company’s stock, valued at $14,751,505.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Cary Baker sold 496 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total transaction of $103,748.32. Following the completion of the sale, the chief financial officer now owns 70,524 shares of the company’s stock, valued at $14,751,505.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Chris Ph.D. Diorio sold 1,219 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $237.82, for a total transaction of $289,902.58. Following the sale, the chief executive officer now owns 294,438 shares of the company’s stock, valued at $70,023,245.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,779 shares of company stock worth $3,825,046 over the last three months. 51.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Impinj

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PI. First Bank & Trust increased its stake in Impinj by 3.2% in the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after buying an additional 55 shares in the last quarter. Hsbc Holdings PLC raised its stake in Impinj by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after purchasing an additional 190 shares during the period. Rhumbline Advisers lifted its holdings in Impinj by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after purchasing an additional 248 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Impinj in the 1st quarter worth approximately $32,000. Finally, Arizona State Retirement System boosted its stake in Impinj by 4.1% in the 2nd quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock worth $1,032,000 after purchasing an additional 261 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.