The Goldman Sachs Group Raises Impinj (NASDAQ:PI) Price Target to $115.00

Impinj (NASDAQ:PIFree Report) had its target price increased by The Goldman Sachs Group from $89.00 to $115.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

PI has been the topic of a number of other reports. Needham & Company LLC boosted their price objective on Impinj from $115.00 to $120.00 and gave the company a buy rating in a research note on Friday. Roth Mkm dropped their price objective on shares of Impinj from $105.00 to $95.00 and set a buy rating for the company in a report on Thursday, October 26th. Susquehanna lifted their price target on shares of Impinj from $115.00 to $130.00 and gave the stock a positive rating in a research note on Friday. Finally, StockNews.com raised Impinj to a sell rating in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Impinj has an average rating of Hold and a consensus price target of $106.43.

Check Out Our Latest Stock Report on Impinj

Impinj Trading Down 1.1 %

Shares of Impinj stock opened at $108.85 on Friday. The firm has a market cap of $2.95 billion, a PE ratio of -67.19 and a beta of 2.04. The company has a debt-to-equity ratio of 8.09, a current ratio of 8.09 and a quick ratio of 4.92. Impinj has a 1 year low of $48.39 and a 1 year high of $144.90. The stock has a fifty day moving average price of $91.48 and a 200-day moving average price of $73.44.

Insiders Place Their Bets

In other news, CFO Cary Baker sold 302 shares of Impinj stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $89.64, for a total transaction of $27,071.28. Following the completion of the transaction, the chief financial officer now directly owns 54,773 shares in the company, valued at $4,909,851.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Impinj news, CFO Cary Baker sold 302 shares of Impinj stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $89.64, for a total value of $27,071.28. Following the completion of the transaction, the chief financial officer now directly owns 54,773 shares of the company’s stock, valued at $4,909,851.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Sylebra Capital Ltd purchased 35,510 shares of Impinj stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average cost of $79.61 per share, with a total value of $2,826,951.10. Following the transaction, the insider now directly owns 4,118,587 shares of the company’s stock, valued at $327,880,711.07. The disclosure for this purchase can be found here. Insiders sold 5,565 shares of company stock worth $473,718 over the last three months. Company insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James & Associates boosted its stake in shares of Impinj by 3.3% in the 1st quarter. Raymond James & Associates now owns 17,095 shares of the company’s stock worth $1,086,000 after buying an additional 540 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Impinj by 21.7% during the 1st quarter. HighTower Advisors LLC now owns 7,326 shares of the company’s stock valued at $466,000 after purchasing an additional 1,305 shares during the period. MetLife Investment Management LLC increased its holdings in Impinj by 55.2% during the first quarter. MetLife Investment Management LLC now owns 10,123 shares of the company’s stock valued at $643,000 after buying an additional 3,601 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Impinj by 2.7% in 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 in the last quarter. Finally, BlackRock Inc. raised its holdings in Impinj by 1.5% in 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

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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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