Brokerages Set Impinj, Inc. (NASDAQ:PI) PT at $114.38

Impinj, Inc. (NASDAQ:PI - Get Free Report) has earned an average rating of "Moderate Buy" from the six research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $114.38.

A number of analysts have recently weighed in on PI shares. The Goldman Sachs Group upped their price target on shares of Impinj from $89.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, February 9th. Canaccord Genuity Group lifted their price target on Impinj from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, March 14th. Roth Mkm upped their price objective on Impinj from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, March 14th. StockNews.com raised Impinj to a "sell" rating in a research note on Friday, February 9th. Finally, Needham & Company LLC increased their target price on shares of Impinj from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, March 14th.

Impinj Price Performance

Impinj stock traded down $4.86 during mid-day trading on Friday, reaching $119.98. 146,193 shares of the company were exchanged, compared to its average volume of 374,631. The firm has a market cap of $3.32 billion, a PE ratio of -74.06 and a beta of 2.05. The company has a debt-to-equity ratio of 8.26, a current ratio of 8.73 and a quick ratio of 5.59. The company has a fifty day simple moving average of $114.61 and a 200-day simple moving average of $89.42. Impinj has a 12 month low of $48.39 and a 12 month high of $142.70.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) EPS for the quarter, topping analysts' consensus estimates of ($0.47) by $0.11. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. The company had revenue of $70.65 million for the quarter, compared to analysts' expectations of $67.10 million. As a group, equities research analysts expect that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In related news, CFO Cary Baker sold 1,062 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $127.61, for a total value of $135,521.82. Following the completion of the transaction, the chief financial officer now owns 67,384 shares in the company, valued at approximately $8,598,872.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Impinj news, COO Hussein Mecklai sold 325 shares of the company's stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $81.13, for a total value of $26,367.25. Following the sale, the chief operating officer now owns 40,489 shares in the company, valued at approximately $3,284,872.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Cary Baker sold 1,062 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $127.61, for a total value of $135,521.82. Following the completion of the sale, the chief financial officer now directly owns 67,384 shares of the company's stock, valued at approximately $8,598,872.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,463 shares of company stock worth $12,613,330. 17.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Impinj

Large investors have recently modified their holdings of the company. American International Group Inc. lifted its stake in shares of Impinj by 1.1% in the 4th quarter. American International Group Inc. now owns 11,601 shares of the company's stock valued at $1,044,000 after purchasing an additional 122 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Impinj by 4.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,977 shares of the company's stock worth $1,259,000 after purchasing an additional 654 shares in the last quarter. Sylebra Capital LLC lifted its stake in Impinj by 6.3% in the fourth quarter. Sylebra Capital LLC now owns 4,197,352 shares of the company's stock valued at $377,888,000 after buying an additional 248,786 shares during the period. Legal & General Group Plc boosted its holdings in shares of Impinj by 10.7% during the 4th quarter. Legal & General Group Plc now owns 23,993 shares of the company's stock worth $2,160,000 after buying an additional 2,326 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC grew its position in shares of Impinj by 83.9% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 28,907 shares of the company's stock worth $2,602,000 after buying an additional 13,190 shares during the period.

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.