Impinj (NASDAQ:PI) Price Target Increased to $115.00 by Analysts at The Goldman Sachs Group

Impinj (NASDAQ:PIFree Report) had its price objective upped by The Goldman Sachs Group from $89.00 to $115.00 in a research note published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the stock. StockNews.com raised shares of Impinj to a sell rating in a research report on Thursday, October 26th. Roth Mkm lowered their target price on Impinj from $105.00 to $95.00 and set a buy rating for the company in a research note on Thursday, October 26th. Susquehanna boosted their price target on Impinj from $115.00 to $130.00 and gave the stock a positive rating in a research report on Friday. Finally, Needham & Company LLC increased their price objective on shares of Impinj from $115.00 to $120.00 and gave the company a buy rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $106.43.

View Our Latest Research Report on Impinj

Impinj Price Performance

PI opened at $108.85 on Friday. Impinj has a 52-week low of $48.39 and a 52-week high of $144.90. The company has a 50 day moving average of $91.48 and a two-hundred day moving average of $73.44. The company has a market cap of $2.95 billion, a P/E ratio of -67.19 and a beta of 2.04. The company has a quick ratio of 4.92, a current ratio of 8.09 and a debt-to-equity ratio of 8.09.

Insider Buying and Selling at Impinj

In related news, major shareholder Sylebra Capital Ltd bought 35,510 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average price of $79.61 per share, with a total value of $2,826,951.10. Following the transaction, the insider now owns 4,118,587 shares of the company’s stock, valued at $327,880,711.07. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Impinj news, major shareholder Sylebra Capital Ltd bought 35,510 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were bought at an average cost of $79.61 per share, with a total value of $2,826,951.10. Following the completion of the acquisition, the insider now owns 4,118,587 shares of the company’s stock, valued at $327,880,711.07. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jeffrey Dossett sold 362 shares of Impinj stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $89.75, for a total transaction of $32,489.50. Following the completion of the transaction, the executive now directly owns 45,239 shares of the company’s stock, valued at $4,060,200.25. The disclosure for this sale can be found here. Insiders have sold a total of 5,565 shares of company stock valued at $473,718 in the last three months. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its stake in Impinj by 3.3% in the first quarter. Raymond James & Associates now owns 17,095 shares of the company’s stock valued at $1,086,000 after buying an additional 540 shares during the last quarter. HighTower Advisors LLC lifted its position in Impinj by 21.7% in the 1st quarter. HighTower Advisors LLC now owns 7,326 shares of the company’s stock valued at $466,000 after purchasing an additional 1,305 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Impinj by 55.2% during the 1st quarter. MetLife Investment Management LLC now owns 10,123 shares of the company’s stock valued at $643,000 after purchasing an additional 3,601 shares during the period. Rhumbline Advisers grew its position in Impinj by 2.7% in the 1st quarter. Rhumbline Advisers now owns 19,620 shares of the company’s stock worth $1,247,000 after purchasing an additional 516 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Impinj by 1.5% in the first quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock valued at $89,758,000 after purchasing an additional 20,404 shares during the period.

About Impinj

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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, which comprises multiple product families, wirelessly connects individual 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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