Impinj (NASDAQ:PI) Reaches New 1-Year High at $162.25

Shares of Impinj, Inc. (NASDAQ:PI - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $162.25 and last traded at $160.98, with a volume of 130424 shares trading hands. The stock had previously closed at $154.66.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PI shares. The Goldman Sachs Group increased their price objective on Impinj from $130.00 to $156.00 and gave the stock a "buy" rating in a research report on Friday, April 26th. Piper Sandler reissued an "overweight" rating and set a $150.00 price objective (up previously from $130.00) on shares of Impinj in a report on Thursday, April 25th. Evercore ISI began coverage on shares of Impinj in a research note on Tuesday, April 16th. They issued an "outperform" rating and a $160.00 target price on the stock. Canaccord Genuity Group lifted their target price on shares of Impinj from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, March 14th. Finally, Needham & Company LLC upped their price objective on Impinj from $130.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $132.89.

Impinj Stock Up 3.3 %

The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 6.87. The stock has a 50 day moving average price of $123.76 and a 200-day moving average price of $97.90. The stock has a market capitalization of $4.43 billion, a P/E ratio of -456.37 and a beta of 1.85.

Impinj (NASDAQ:PI - Get Free Report) last released 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. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The firm had revenue of $76.83 million during the quarter, compared to analyst estimates of $73.57 million. As a group, research analysts expect that Impinj, Inc. will post -0.62 EPS for the current fiscal year.

Insider Activity at Impinj

In other news, COO Hussein Mecklai sold 30,000 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the sale, the chief operating officer now directly owns 40,489 shares of the company's stock, valued at approximately $4,243,247.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Impinj news, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the sale, the chief operating officer now directly owns 40,489 shares in the company, valued at approximately $4,243,247.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Cary Baker sold 20,000 shares of the business'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 transaction, the chief financial officer now 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 have sold 173,321 shares of company stock worth $20,630,914 over the last 90 days. 17.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Impinj

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC bought a new position in Impinj in the 1st quarter worth $25,747,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Impinj by 13.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company's stock worth $7,990,000 after buying an additional 7,247 shares during the period. Principal Financial Group Inc. lifted its position in shares of Impinj by 16.9% during the 1st quarter. Principal Financial Group Inc. now owns 3,137 shares of the company's stock valued at $403,000 after buying an additional 454 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Impinj by 117.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company's stock valued at $124,000 after buying an additional 521 shares in the last quarter. Finally, Wealth Effects LLC grew its stake in shares of Impinj by 1.0% during the 1st quarter. Wealth Effects LLC now owns 15,145 shares of the company's stock valued at $1,945,000 after acquiring an additional 150 shares during the period.

Impinj Company Profile

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.