Impinj (NASDAQ:PI) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Impinj (NASDAQ:PI – Get Rating) in a research note published on Thursday morning. The firm issued a sell rating on the stock.

A number of other research firms have also recently commented on PI. Canaccord Genuity Group upped their target price on Impinj from $140.00 to $155.00 and gave the company a buy rating in a research note on Thursday, February 9th. The Goldman Sachs Group upped their target price on Impinj from $111.00 to $142.00 and gave the company a buy rating in a research note on Friday, February 10th. TheStreet raised Impinj from a d rating to a c- rating in a research note on Wednesday, February 8th. Lake Street Capital increased their price objective on Impinj from $132.00 to $135.00 in a research note on Thursday, February 9th. Finally, Needham & Company LLC increased their price objective on Impinj from $130.00 to $138.00 and gave the stock a buy rating in a research note on Thursday, February 9th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat.com, Impinj currently has a consensus rating of Moderate Buy and a consensus target price of $129.75.

Impinj Stock Performance

PI opened at $126.13 on Thursday. The stock’s 50 day moving average price is $127.96 and its 200-day moving average price is $110.59. Impinj has a one year low of $39.74 and a one year high of $144.90. The company has a quick ratio of 5.40, a current ratio of 6.49 and a debt-to-equity ratio of 17.97.

Impinj (NASDAQ:PI – Get Rating) last released its earnings results on Wednesday, February 8th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $76.59 million for the quarter, compared to analysts’ expectations of $76.20 million. Impinj had a negative return on equity of 62,026.59% and a negative net margin of 9.43%. On average, sell-side analysts forecast that Impinj will post 0.13 earnings per share for the current year.

Insider Buying and Selling

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,612 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $109.73, for a total transaction of $176,884.76. Following the completion of the sale, the chief executive officer now owns 285,885 shares in the company, valued at $31,370,161.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Impinj news, CEO Chris Ph.D. Diorio sold 1,612 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $109.73, for a total transaction of $176,884.76. Following the completion of the sale, the chief executive officer now owns 285,885 shares in the company, valued at $31,370,161.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO Jeffrey Dossett sold 2,000 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $110.81, for a total value of $221,620.00. Following the sale, the executive now owns 45,487 shares of the company’s stock, valued at approximately $5,040,414.47. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 88,397 shares of company stock valued at $10,952,581 and have sold 64,269 shares valued at $8,053,633. 20.20% of the stock is owned by insiders.

Institutional Trading of Impinj

Several hedge funds and other institutional investors have recently made changes to their positions in PI. Raymond James & Associates lifted its holdings in shares of Impinj by 3.3% during the 1st quarter. Raymond James & Associates now owns 17,095 shares of the company’s stock valued at $1,086,000 after purchasing an additional 540 shares during the last quarter. HighTower Advisors LLC lifted its holdings 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 last quarter. MetLife Investment Management LLC lifted its holdings in shares of Impinj by 55.2% during the 1st quarter. MetLife Investment Management LLC now owns 10,123 shares of the company’s stock valued at $643,000 after purchasing an additional 3,601 shares during the last quarter. Rhumbline Advisers raised its stake in 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 acquiring an additional 516 shares during the last quarter. Finally, BlackRock Inc. raised its stake 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 acquiring an additional 20,404 shares during the last quarter. Hedge funds and other institutional investors own 97.32% of the company’s stock.

About Impinj

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IImpinj, Inc engages in the development and sale of radio frequency identification solutions. The company was founded by Christopher Diorio in April 2000 and is headquartered in Seattle, WA.