Impinj (NASDAQ:PI) Hits New 52-Week High at $162.25

Impinj, Inc. (NASDAQ:PI)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $162.25 and last traded at $160.98, with a volume of 130424 shares traded. The stock had previously closed at $154.66.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Impinj from $130.00 to $156.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Susquehanna upped their price objective on Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research report on Tuesday, April 23rd. Roth Mkm lifted their target price on Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Canaccord Genuity Group upped their price target on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, Evercore ISI initiated coverage on Impinj in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $132.89.

Impinj Trading Up 0.9 %

The company has a debt-to-equity ratio of 3.29, a quick ratio of 6.87 and a current ratio of 9.42. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of -460.66 and a beta of 1.85. The company has a 50-day moving average price of $124.94 and a 200-day moving average price of $98.65.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. The firm had revenue of $76.83 million during the quarter, compared to the consensus estimate of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. As a group, research analysts forecast that Impinj, Inc. will post -0.62 EPS for the current fiscal year.

Insider Activity at Impinj

In other news, CFO Cary Baker sold 10,000 shares of Impinj stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $159.08, for a total transaction of $1,590,800.00. Following the sale, the chief financial officer now owns 67,948 shares in the company, valued at $10,809,167.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Hussein Mecklai sold 5,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $154.38, for a total transaction of $771,900.00. Following the completion of the sale, the chief operating officer now owns 55,414 shares in the company, valued at approximately $8,554,813.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Cary Baker sold 10,000 shares of Impinj stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $159.08, for a total transaction of $1,590,800.00. Following the completion of the transaction, the chief financial officer now owns 67,948 shares in the company, valued at $10,809,167.84. The disclosure for this sale can be found here. Insiders have sold 183,321 shares of company stock valued at $22,221,714 in the last ninety days. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several institutional investors have recently added to or reduced their stakes in PI. FMR LLC raised its position in 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 buying an additional 31,289 shares during the last quarter. Sylebra Capital LLC purchased a new position in Impinj during the third quarter worth about $217,290,000. Westfield Capital Management Co. LP lifted its position in Impinj by 40.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after purchasing an additional 292,470 shares during the period. Fred Alger Management LLC boosted its holdings in Impinj by 249.6% in the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after purchasing an additional 568,301 shares in the last quarter. Finally, Capital International Investors acquired a new position in Impinj during the 4th quarter worth approximately $68,211,000.

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.