Impinj (NASDAQ:PI) Hits New 52-Week High at $94.75

Impinj, Inc. (NASDAQ:PIGet Rating) shares hit a new 52-week high on Thursday . The stock traded as high as $94.75 and last traded at $94.64, with a volume of 4462 shares trading hands. The stock had previously closed at $92.18.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Lake Street Capital raised their target price on shares of Impinj from $87.00 to $94.00 in a research note on Thursday, July 28th. Needham & Company LLC lifted their price objective on shares of Impinj from $96.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Roth Capital lowered their price objective on shares of Impinj from $95.00 to $76.00 in a research note on Thursday, April 28th. The Goldman Sachs Group lifted their price objective on shares of Impinj from $78.00 to $89.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Finally, Piper Sandler lifted their price objective on shares of Impinj from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.80.

Impinj Price Performance

The company’s fifty day moving average is $62.18 and its 200-day moving average is $61.13. The stock has a market cap of $2.44 billion, a PE ratio of -43.06 and a beta of 2.24.

Impinj (NASDAQ:PIGet Rating) last issued its earnings results on Wednesday, July 27th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.13. Impinj had a negative net margin of 26.07% and a negative return on equity of 236.49%. The firm had revenue of $59.80 million during the quarter, compared to analysts’ expectations of $55.12 million. During the same quarter last year, the company posted ($0.33) earnings per share. The firm’s revenue was up 26.4% compared to the same quarter last year. Analysts expect that Impinj, Inc. will post -0.99 EPS for the current year.

Insider Buying and Selling at Impinj

In other Impinj news, Director Cathal G. Phelan sold 20,000 shares of Impinj stock in a transaction on Friday, July 29th. The shares were sold at an average price of $82.15, for a total value of $1,643,000.00. Following the completion of the transaction, the director now owns 15,073 shares of the company’s stock, valued at $1,238,246.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CRO Jeffrey Dossett sold 775 shares of Impinj stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $47.94, for a total value of $37,153.50. Following the sale, the executive now owns 53,295 shares in the company, valued at $2,554,962.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Cathal G. Phelan sold 20,000 shares of Impinj stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $82.15, for a total transaction of $1,643,000.00. Following the completion of the sale, the director now owns 15,073 shares in the company, valued at approximately $1,238,246.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,474 shares of company stock valued at $5,959,613. Corporate insiders own 20.20% of the company’s stock.

Institutional Trading of Impinj

Several institutional investors have recently modified their holdings of the stock. Waterfront Wealth Inc. boosted its position in Impinj by 2.8% during the fourth quarter. Waterfront Wealth Inc. now owns 8,616 shares of the company’s stock worth $764,000 after acquiring an additional 231 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Impinj by 7.9% during the first quarter. Teacher Retirement System of Texas now owns 3,743 shares of the company’s stock worth $238,000 after acquiring an additional 275 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Impinj by 0.5% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,691 shares of the company’s stock worth $3,443,000 after acquiring an additional 286 shares during the last quarter. Trustcore Financial Services LLC boosted its position in Impinj by 8.9% during the second quarter. Trustcore Financial Services LLC now owns 4,240 shares of the company’s stock worth $249,000 after acquiring an additional 347 shares during the last quarter. Finally, Ironwood Investment Management LLC boosted its position in Impinj by 1.6% during the fourth quarter. Ironwood Investment Management LLC now owns 28,269 shares of the company’s stock worth $2,507,000 after acquiring an additional 447 shares during the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

Impinj Company Profile

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Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

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