Impinj (NASDAQ:PI) Given New $195.00 Price Target at Needham & Company LLC

Impinj (NASDAQ:PI - Get Free Report) had its price objective hoisted by Needham & Company LLC from $160.00 to $195.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price target suggests a potential upside of 14.97% from the stock's previous close.

A number of other equities analysts also recently commented on the company. Jefferies Financial Group started coverage on Impinj in a research report on Monday. They set a "buy" rating and a $200.00 price objective for the company. Susquehanna lifted their target price on Impinj from $130.00 to $140.00 and gave the stock a "positive" rating in a research report on Tuesday, April 23rd. Canaccord Genuity Group upped 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. Evercore ISI assumed coverage on Impinj in a research report on Tuesday, April 16th. They set an "outperform" rating and a $160.00 price target on the stock. Finally, Roth Mkm increased their price objective on Impinj from $125.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Impinj presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.10.

Impinj Trading Down 3.0 %

NASDAQ:PI traded down $5.26 during trading hours on Thursday, hitting $169.61. The company had a trading volume of 635,463 shares, compared to its average volume of 439,345. Impinj has a 1 year low of $48.39 and a 1 year high of $175.41. The company has a market cap of $4.70 billion, a P/E ratio of -485.37 and a beta of 1.85. The company has a 50-day moving average of $133.86 and a 200 day moving average of $105.12. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.14. The business had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. Sell-side analysts expect that Impinj will post -0.62 earnings per share for the current year.

Insider Activity at Impinj

In related 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 completion of the sale, the chief financial officer now owns 67,948 shares in the company, valued at approximately $10,809,167.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Cary Baker sold 10,000 shares of the 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 transaction, the chief financial officer now directly owns 67,948 shares in the company, valued at $10,809,167.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Hussein Mecklai sold 5,000 shares of the company's stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $154.38, for a total transaction of $771,900.00. Following the transaction, the chief operating officer now directly owns 55,414 shares of the company's stock, valued at approximately $8,554,813.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,321 shares of company stock valued at $15,972,614. 51.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Impinj

Several large investors have recently made changes to their positions in the business. K.J. Harrison & Partners Inc purchased a new position in Impinj in the 4th quarter valued at about $1,458,000. Charles Schwab Investment Management Inc. boosted its holdings in Impinj by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company's stock valued at $9,577,000 after purchasing an additional 8,038 shares during the last quarter. Lisanti Capital Growth LLC acquired a new stake in Impinj during the 4th quarter valued at approximately $5,739,000. Aigen Investment Management LP purchased a new stake in Impinj during the 3rd quarter worth approximately $320,000. Finally, Telemus Capital LLC acquired a new position in shares of Impinj in the 4th quarter valued at approximately $298,000.

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.