Impinj (NASDAQ:PI) PT Raised to $260.00 at Cantor Fitzgerald

Impinj (NASDAQ:PI) had its price objective hoisted by Cantor Fitzgerald from $205.00 to $260.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 29.55% from the stock’s previous close.

PI has been the topic of several other reports. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday. Needham & Company LLC boosted their price objective on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Roth Mkm boosted their price target on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Susquehanna boosted their price target on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.60.

Impinj Price Performance

Shares of Impinj stock opened at $200.70 on Thursday. Impinj has a 1 year low of $58.56 and a 1 year high of $239.88. The company has a market capitalization of $5.64 billion, a P/E ratio of 692.07 and a beta of 1.80. The business has a 50 day moving average price of $196.40 and a 200 day moving average price of $168.96.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The firm had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same period in the prior year, the firm posted ($0.36) earnings per share. The business’s quarterly revenue was up 46.5% compared to the same quarter last year. As a group, research analysts expect that Impinj will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Impinj

In related news, CEO Chris Ph.D. Diorio sold 1,498 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total transaction of $313,261.76. Following the completion of the sale, the chief executive officer now directly owns 292,532 shares of the company’s stock, valued at $61,174,291.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Impinj news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the purchase, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total transaction of $313,261.76. Following the completion of the transaction, the chief executive officer now owns 292,532 shares of the company’s stock, valued at $61,174,291.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,779 shares of company stock valued at $3,825,046. 51.00% of the stock is currently owned by company insiders.

Institutional Trading of Impinj

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new position in shares of Impinj in the 2nd quarter valued at approximately $103,252,000. Jennison Associates LLC acquired a new stake in shares of Impinj during the 1st quarter valued at $25,747,000. Renaissance Technologies LLC bought a new position in Impinj in the 2nd quarter valued at approximately $30,116,000. TimesSquare Capital Management LLC bought a new stake in shares of Impinj in the 1st quarter valued at about $19,195,000. Finally, Lord Abbett & CO. LLC bought a new position in Impinj during the first quarter worth $9,659,000.

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.