The Goldman Sachs Group Raises Impinj (NASDAQ:PI) Price Target to $115.00

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

Several other analysts also recently issued reports on the company. Needham & Company LLC upped their price target on Impinj from $115.00 to $120.00 and gave the stock a buy rating in a research note on Friday. Susquehanna increased their target price on shares of Impinj from $115.00 to $130.00 and gave the company a positive rating in a research note on Friday. StockNews.com raised shares of Impinj to a sell rating in a report on Thursday, October 26th. Finally, Roth Mkm lowered their price target on Impinj from $105.00 to $95.00 and set a buy rating on the stock in a research report on Thursday, October 26th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Impinj currently has an average rating of Hold and an average target price of $106.43.

Check Out Our Latest Research Report on Impinj

Impinj Price Performance

NASDAQ PI opened at $108.85 on Friday. The stock’s 50-day moving average price is $91.48 and its two-hundred day moving average price is $73.44. The company has a market cap of $2.95 billion, a PE ratio of -67.19 and a beta of 2.04. The company has a current ratio of 8.09, a quick ratio of 4.92 and a debt-to-equity ratio of 8.09. Impinj has a 1 year low of $48.39 and a 1 year high of $144.90.

Insider Buying and Selling at Impinj

In other news, major shareholder Sylebra Capital Ltd purchased 35,510 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were acquired at an average cost of $79.61 per share, for a total transaction of $2,826,951.10. Following the transaction, the insider now directly owns 4,118,587 shares of the company’s stock, valued at approximately $327,880,711.07. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Sylebra Capital Ltd purchased 35,510 shares of Impinj stock in a transaction dated Thursday, November 16th. The stock was bought at an average price of $79.61 per share, for a total transaction of $2,826,951.10. Following the completion of the acquisition, the insider now directly owns 4,118,587 shares of the company’s stock, valued at $327,880,711.07. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Cary Baker sold 1,468 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $82.94, for a total value of $121,755.92. Following the completion of the sale, the chief financial officer now owns 53,821 shares in the company, valued at approximately $4,463,913.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,565 shares of company stock worth $473,718. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in shares of Impinj by 1.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 8,583 shares of the company’s stock valued at $937,000 after purchasing an additional 86 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Impinj by 2.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock worth $462,000 after purchasing an additional 115 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Impinj by 5.8% in the third quarter. Royal Bank of Canada now owns 2,762 shares of the company’s stock valued at $221,000 after buying an additional 151 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Impinj by 10.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,899 shares of the company’s stock valued at $170,000 after purchasing an additional 182 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in Impinj by 3.3% in the 3rd quarter. Arizona State Retirement System now owns 6,450 shares of the company’s stock valued at $355,000 after purchasing an additional 205 shares during the period.

About Impinj

(Get Free Report)

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.

See Also

Analyst Recommendations for Impinj (NASDAQ:PI)

Receive News & Ratings for Impinj Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Impinj and related companies with MarketBeat.com's FREE daily email newsletter.