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

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

Other analysts also recently issued research reports about the company. Piper Sandler restated an overweight rating and issued a $150.00 target price (up previously from $130.00) on shares of Impinj in a research report on Thursday, April 25th. StockNews.com upgraded shares of Impinj to a sell rating in a report on Friday, February 9th. Susquehanna increased their target price on shares of Impinj from $130.00 to $140.00 and gave the company a positive rating in a report on Tuesday, April 23rd. Evercore ISI began coverage on shares of Impinj in a research note on Tuesday, April 16th. They issued an outperform rating and a $160.00 price target for the company. Finally, Roth Mkm raised their price objective on Impinj from $125.00 to $145.00 and gave the company a buy rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Impinj presently has a consensus rating of Moderate Buy and a consensus price target of $132.89.

Impinj Price Performance

PI stock opened at $157.45 on Friday. The firm has a 50 day simple moving average of $120.33 and a two-hundred day simple moving average of $96.31. The stock has a market cap of $4.36 billion, a PE ratio of -449.86 and a beta of 2.05. Impinj has a one year low of $48.39 and a one year high of $159.62. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 6.87.

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

Insider Transactions at Impinj

In related news, CFO Cary Baker sold 374 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $118.70, for a total transaction of $44,393.80. Following the completion of the transaction, the chief financial officer now owns 67,948 shares in the company, valued at $8,065,427.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Impinj news, COO Hussein Mecklai sold 30,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 40,489 shares in the company, valued at approximately $4,243,247.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Cary Baker sold 374 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $118.70, for a total value of $44,393.80. Following the completion of the transaction, the chief financial officer now directly owns 67,948 shares of the company’s stock, valued at approximately $8,065,427.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,185 shares of company stock worth $12,767,674. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Impinj

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PI. FMR LLC increased its stake in shares of Impinj by 0.8% during the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after purchasing an additional 31,289 shares in the last quarter. Sylebra Capital LLC purchased a new stake in shares of Impinj in the 3rd quarter worth approximately $217,290,000. Westfield Capital Management Co. LP increased its position in Impinj by 40.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after buying an additional 292,470 shares in the last quarter. Fred Alger Management LLC raised its stake in Impinj by 249.6% during the third quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after buying an additional 568,301 shares during the last quarter. Finally, Capital International Investors bought a new stake in Impinj in the fourth quarter worth $68,211,000.

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.