Impinj (NASDAQ:PI) Given New $160.00 Price Target at Needham & Company LLC

Impinj (NASDAQ:PI) had its target price boosted by Needham & Company LLC from $130.00 to $160.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Canaccord Genuity Group upped their price objective on Impinj from $130.00 to $150.00 and gave the company a buy rating in a research report on Thursday, March 14th. Roth Mkm upped their price objective on Impinj from $115.00 to $125.00 and gave the company a buy rating in a research report on Thursday, March 14th. Susquehanna upped their price objective on Impinj from $130.00 to $140.00 and gave the company a positive rating in a research report on Tuesday. StockNews.com upgraded Impinj to a sell rating in a research report on Friday, February 9th. Finally, The Goldman Sachs Group upped their price objective on Impinj from $89.00 to $115.00 and gave the company a buy rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $128.33.

Impinj Trading Up 28.6 %

Shares of Impinj stock opened at $155.55 on Thursday. 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 one year low of $48.39 and a one year high of $156.41. The firm has a fifty day moving average of $118.27 and a two-hundred day moving average of $94.35.

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

Insider Activity at Impinj

In related news, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the transaction, the chief operating officer now owns 40,489 shares of the company’s stock, valued at $4,243,247.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Impinj news, CFO Cary Baker sold 1,062 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $127.61, for a total transaction of $135,521.82. Following the transaction, the chief financial officer now owns 67,384 shares of the company’s stock, valued at approximately $8,598,872.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the transaction, the chief operating officer now directly owns 40,489 shares in the company, valued at approximately $4,243,247.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 120,185 shares of company stock valued at $12,767,674. Insiders own 17.10% of the company’s stock.

Institutional Trading of Impinj

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC increased 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 acquiring an additional 2,499 shares during the period. SG Americas Securities LLC increased 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 acquiring an additional 15,591 shares during the period. Avior Wealth Management LLC increased its position 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 period. Newbridge Financial Services Group Inc. acquired a new stake in Impinj in the 3rd quarter valued at approximately $55,000. Finally, Asset Management One Co. Ltd. increased its position 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 period.

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.