The Goldman Sachs Group Boosts Impinj (NASDAQ:PI) Price Target to $156.00

Impinj (NASDAQ:PI) had its price objective increased by research analysts at The Goldman Sachs Group from $130.00 to $156.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 6.89% from the company’s current price.

A number of other analysts have also weighed in on PI. Piper Sandler reaffirmed an “overweight” rating and issued a $150.00 price target (up from $130.00) on shares of Impinj in a research note on Thursday. Evercore ISI assumed coverage on Impinj in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 target price for the company. Roth Mkm increased their price target on Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC boosted their price objective on Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Canaccord Genuity Group raised their target price on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.89.

Impinj Stock Performance

Impinj stock traded down $9.61 during mid-day trading on Friday, hitting $145.94. 1,003,189 shares of the company’s stock traded hands, compared to its average volume of 412,185. Impinj has a one year low of $48.39 and a one year high of $156.41. The company has a market cap of $4.04 billion, a PE ratio of -418.09 and a beta of 2.05. The firm has a 50 day moving average price of $118.27 and a 200 day moving average price of $94.35. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. The business had revenue of $76.83 million for 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%. On average, equities analysts forecast that Impinj will post -0.62 EPS for the current year.

Insider Activity at Impinj

In other news, COO Hussein Mecklai sold 435 shares of Impinj stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $118.75, for a total value of $51,656.25. Following the transaction, the chief operating officer now directly owns 55,414 shares of the company’s stock, valued at $6,580,412.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Hussein Mecklai sold 435 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $118.75, for a total value of $51,656.25. Following the completion of the sale, the chief operating officer now owns 55,414 shares in the company, valued at $6,580,412.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cary Baker sold 20,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total value of $2,042,800.00. Following the completion of the sale, the chief financial officer now directly owns 55,432 shares of the company’s stock, valued at approximately $5,661,824.48. The disclosure for this sale can be found here. Insiders sold 120,185 shares of company stock worth $12,767,674 in the last quarter. 17.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Impinj

Large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in shares of Impinj by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company’s stock worth $9,577,000 after acquiring an additional 8,038 shares during the last quarter. Aigen Investment Management LP acquired a new position in Impinj in the 3rd quarter worth about $320,000. FMR LLC raised its stake in shares of Impinj by 0.8% during the 3rd quarter. FMR LLC now owns 4,028,894 shares of the company’s stock worth $221,710,000 after purchasing an additional 31,289 shares in the last quarter. Telemus Capital LLC acquired a new stake in shares of Impinj during the 4th quarter valued at about $298,000. Finally, AWM Investment Company Inc. grew its stake in shares of Impinj by 9.5% in the 3rd quarter. AWM Investment Company Inc. now owns 365,428 shares of the company’s stock valued at $20,110,000 after buying an additional 31,556 shares in 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.