Impinj (NASDAQ:PI) Upgraded at StockNews.com

Impinj (NASDAQ:PI) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

A number of other equities analysts also recently issued reports on PI. Susquehanna increased their price target on shares of Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a report on Tuesday. The Goldman Sachs Group increased their price objective on shares of Impinj from $130.00 to $156.00 and gave the company a “buy” rating in a research note on Friday. Piper Sandler reissued an “overweight” rating and issued a $150.00 price objective (up from $130.00) on shares of Impinj in a research note on Thursday. Roth Mkm increased their price objective on shares of Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Canaccord Genuity Group increased their price objective on shares of Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.89.

Impinj Stock Performance

Impinj stock traded down $4.64 during trading hours on Friday, reaching $150.91. 1,647,904 shares of the stock were exchanged, compared to its average volume of 421,742. The stock has a market cap of $4.17 billion, a P/E ratio of -431.17 and a beta of 2.05. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.59 and a current ratio of 8.73. Impinj has a 52-week low of $48.39 and a 52-week high of $156.41. The firm’s 50 day moving average is $119.23 and its 200 day moving average is $95.02.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. The company had revenue of $76.83 million during the quarter, compared to the consensus estimate of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 81.75%. Analysts predict that Impinj will post -0.62 EPS for the current fiscal year.

Insider Activity at Impinj

In related news, CRO Jeffrey Dossett sold 4,858 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $101.11, for a total value of $491,192.38. Following the sale, the executive now directly owns 57,110 shares of the company’s stock, valued at $5,774,392.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Impinj news, COO Hussein Mecklai sold 30,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the completion of the sale, the chief operating officer now owns 40,489 shares in the company, valued at $4,243,247.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO Jeffrey Dossett sold 4,858 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $101.11, for a total transaction of $491,192.38. Following the sale, the executive now owns 57,110 shares of the company’s stock, valued at approximately $5,774,392.10. The disclosure for this sale can be found here. Insiders have sold 120,185 shares of company stock valued at $12,767,674 over the last ninety days. Corporate insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Impinj

Institutional investors have recently modified their holdings of the company. CWM LLC grew its position in Impinj by 68.3% in the 3rd quarter. CWM LLC now owns 6,157 shares of the company’s stock valued at $339,000 after buying an additional 2,499 shares in the last quarter. SG Americas Securities LLC grew its position in Impinj by 101.9% in the 3rd quarter. SG Americas Securities LLC now owns 30,894 shares of the company’s stock valued at $1,700,000 after buying an additional 15,591 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Impinj by 35.8% in the 3rd quarter. Avior Wealth Management LLC now owns 4,665 shares of the company’s stock valued at $257,000 after acquiring an additional 1,229 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in Impinj by 74.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock valued at $67,000 after acquiring an additional 524 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Impinj by 109.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,730 shares of the company’s stock valued at $260,000 after acquiring an additional 2,476 shares during the last quarter.

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.