Impinj (NASDAQ:PI) Now Covered by Evercore ISI

Evercore ISI began coverage on shares of Impinj (NASDAQ:PI) in a report issued on Tuesday, Marketbeat reports. The firm issued an outperform rating and a $160.00 price target on the stock.

A number of other equities research analysts have also issued reports on PI. Roth Mkm increased their target price on Impinj from $115.00 to $125.00 and gave the company a buy rating in a research note on Thursday, March 14th. StockNews.com upgraded Impinj to a sell rating in a research note on Friday, February 9th. Canaccord Genuity Group increased their target price on Impinj from $130.00 to $150.00 and gave the company a buy rating in a research note on Thursday, March 14th. Susquehanna increased their target price on Impinj from $115.00 to $130.00 and gave the company a positive rating in a research note on Friday, February 9th. Finally, The Goldman Sachs Group increased their target price on Impinj from $89.00 to $115.00 and gave the company a buy rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Impinj presently has a consensus rating of Moderate Buy and an average price target of $119.44.

Impinj Price Performance

Shares of NASDAQ:PI opened at $116.32 on Tuesday. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.59 and a current ratio of 8.73. The business has a 50-day moving average of $116.30 and a two-hundred day moving average of $92.16. Impinj has a 12 month low of $48.39 and a 12 month high of $141.68.

Impinj (NASDAQ:PI) last announced its quarterly 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 during the quarter, compared to analyst estimates of $67.10 million. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. On average, analysts anticipate that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other Impinj news, CFO Cary Baker sold 306 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $123.55, for a total transaction of $37,806.30. Following the completion of the sale, the chief financial officer now owns 65,748 shares in the company, valued at approximately $8,123,165.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Cathal G. Phelan sold 10,000 shares of Impinj stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $106.23, for a total value of $1,062,300.00. Following the completion of the transaction, the insider now owns 21,750 shares in the company, valued at approximately $2,310,502.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Cary Baker sold 306 shares of Impinj stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $123.55, for a total value of $37,806.30. Following the completion of the transaction, the chief financial officer now owns 65,748 shares of the company’s stock, valued at approximately $8,123,165.40. The disclosure for this sale can be found here. Insiders sold a total of 120,185 shares of company stock worth $12,767,674 in the last 90 days. 17.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deltec Asset Management LLC acquired a new position in Impinj during the 1st quarter valued at approximately $584,000. Future Financial Wealth Managment LLC acquired a new position in Impinj during the 1st quarter worth $32,000. American International Group Inc. boosted its position in Impinj by 1.1% during the 4th quarter. American International Group Inc. now owns 11,601 shares of the company’s stock worth $1,044,000 after acquiring an additional 122 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Impinj by 4.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,977 shares of the company’s stock worth $1,259,000 after acquiring an additional 654 shares during the period. Finally, Sylebra Capital LLC boosted its position in Impinj by 6.3% during the 4th quarter. Sylebra Capital LLC now owns 4,197,352 shares of the company’s stock worth $377,888,000 after acquiring an additional 248,786 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.