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

Impinj (NASDAQ:PI - Free Report) had its price target raised by The Goldman Sachs Group from $130.00 to $156.00 in a report released on Friday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on PI. Canaccord Genuity Group lifted their target price on Impinj from $130.00 to $150.00 and gave the company a buy rating in a research report on Thursday, March 14th. Piper Sandler reissued an overweight rating and issued a $150.00 target price (up from $130.00) on shares of Impinj in a report on Thursday. Evercore ISI started coverage on Impinj in a research note on Tuesday, April 16th. They set an outperform rating and a $160.00 price objective for the company. Roth Mkm upped their price target on Impinj from $125.00 to $145.00 and gave the stock a buy rating in a report on Thursday. Finally, Susquehanna raised their price target on Impinj from $130.00 to $140.00 and gave the stock a positive rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $132.89.

Impinj Price Performance

PI traded down $4.64 during trading on Friday, hitting $150.91. The company's stock had a trading volume of 1,647,904 shares, compared to its average volume of 421,742. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of -416.97 and a beta of 2.05. The business's fifty day simple moving average is $118.27 and its 200 day simple moving average is $94.35. Impinj has a twelve month low of $48.39 and a twelve month high of $156.41. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26.

Impinj (NASDAQ:PI - Get Free Report) last released its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.14. Impinj had a negative return on equity of 81.75% and a negative net margin of 1.90%. The business had revenue of $76.83 million for the quarter, compared to the consensus estimate of $73.57 million. On average, equities research analysts forecast that Impinj will post -0.62 EPS for the current fiscal year.

Insider Transactions at Impinj

In other news, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were 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 of the company's stock, valued at $4,243,247.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Cary Baker sold 306 shares of Impinj stock in a transaction on Monday, March 18th. The shares were sold at an average price of $123.55, for a total transaction of $37,806.30. Following the transaction, the chief financial officer now directly owns 65,748 shares of the company's stock, valued at $8,123,165.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Hussein Mecklai sold 30,000 shares of the firm's 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 owns 40,489 shares in the company, valued at $4,243,247.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 120,185 shares of company stock valued at $12,767,674. Corporate insiders own 17.10% of the company's stock.

Institutional Trading of Impinj

Several hedge funds and other institutional investors have recently modified their holdings of PI. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj in the 1st quarter valued at approximately $32,000. GAMMA Investing LLC bought a new stake in shares of Impinj in the 4th quarter valued at $40,000. Headlands Technologies LLC bought a new stake in shares of Impinj in the 4th quarter valued at $58,000. Whittier Trust Co. bought a new stake in shares of Impinj in the 4th quarter valued at $90,000. Finally, Asset Management One Co. Ltd. boosted its stake in Impinj by 74.6% during the third quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company's stock worth $67,000 after acquiring an additional 524 shares in the last quarter.

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.