Impinj (NASDAQ:PI) Receives New Coverage from Analysts at Evercore ISI

Evercore ISI started coverage on shares of Impinj (NASDAQ:PI - Free Report) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $160.00 price target on the stock.

Several other brokerages have also commented on PI. The Goldman Sachs Group boosted their target price on shares of Impinj from $89.00 to $115.00 and gave the stock a buy rating in a research report on Friday, February 9th. Needham & Company LLC boosted their price objective on shares of Impinj from $120.00 to $130.00 and gave the stock a buy rating in a research report on Thursday, March 14th. Canaccord Genuity Group boosted their price objective on shares of Impinj from $130.00 to $150.00 and gave the stock a buy rating in a research report on Thursday, March 14th. Susquehanna boosted their price objective on shares of Impinj from $115.00 to $130.00 and gave the stock a positive rating in a research report on Friday, February 9th. Finally, StockNews.com upgraded shares of Impinj to a sell rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Impinj has a consensus rating of Moderate Buy and a consensus target price of $119.44.

Impinj Price Performance

Shares of NASDAQ PI traded up $2.89 during trading on Tuesday, hitting $121.39. 177,615 shares of the company were exchanged, compared to its average volume of 369,906. The company has a market cap of $3.36 billion, a price-to-earnings ratio of -74.93 and a beta of 2.05. Impinj has a 1 year low of $48.39 and a 1 year high of $142.70. The firm's fifty day moving average price is $115.60 and its 200 day moving average price is $91.31. The company has a debt-to-equity ratio of 8.26, a current ratio of 8.73 and a quick ratio of 5.59.

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

Insider Activity at Impinj

In related news, insider Cathal G. Phelan sold 2,556 shares of the business's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $98.88, for a total value of $252,737.28. Following the completion of the transaction, the insider now owns 24,990 shares of the company's stock, valued at approximately $2,471,011.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Chris Ph.D. Diorio sold 16,060 shares of the company's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $101.16, for a total transaction of $1,624,629.60. Following the completion of the transaction, the chief executive officer now owns 278,863 shares of the company's stock, valued at approximately $28,209,781.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Cathal G. Phelan sold 2,556 shares of the company's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $98.88, for a total transaction of $252,737.28. Following the transaction, the insider now directly owns 24,990 shares of the company's stock, valued at approximately $2,471,011.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,634 shares of company stock valued at $12,464,886. 17.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PI. Raymond James & Associates grew its holdings in shares of Impinj by 3.3% during the 1st quarter. Raymond James & Associates now owns 17,095 shares of the company's stock worth $1,086,000 after purchasing an additional 540 shares during the period. HighTower Advisors LLC grew its holdings in shares of Impinj by 21.7% during the 1st quarter. HighTower Advisors LLC now owns 7,326 shares of the company's stock worth $466,000 after purchasing an additional 1,305 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Impinj by 55.2% during the 1st quarter. MetLife Investment Management LLC now owns 10,123 shares of the company's stock worth $643,000 after purchasing an additional 3,601 shares during the period. Rhumbline Advisers grew its holdings in shares of Impinj by 2.7% during the 1st quarter. Rhumbline Advisers now owns 19,620 shares of the company's stock worth $1,247,000 after purchasing an additional 516 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of Impinj by 1.5% during the 1st quarter. BlackRock Inc. now owns 1,412,629 shares of the company's stock worth $89,758,000 after purchasing an additional 20,404 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.