Lake Street Capital Boosts Impinj (NASDAQ:PI) Price Target to $251.00

Impinj (NASDAQ:PI) had its price objective increased by Lake Street Capital from $190.00 to $251.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the stock. Evercore ISI reissued an “outperform” rating and set a $270.00 price objective (up from $205.00) on shares of Impinj in a report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $205.00 price target on shares of Impinj in a research report on Thursday, July 25th. Susquehanna raised their price objective on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. Needham & Company LLC boosted their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday. Finally, StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Impinj Stock Performance

Shares of NASDAQ PI opened at $200.70 on Thursday. Impinj has a fifty-two week low of $58.56 and a fifty-two week high of $239.88. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 692.07 and a beta of 1.80. The business’s 50 day moving average price is $196.40 and its 200-day moving average price is $169.26.

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

Insiders Place Their Bets

In other Impinj news, CFO Cary Baker sold 366 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $237.83, for a total transaction of $87,045.78. Following the sale, the chief financial officer now owns 71,096 shares in the company, valued at approximately $16,908,761.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Impinj news, CFO Cary Baker sold 366 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $237.83, for a total transaction of $87,045.78. Following the completion of the transaction, the chief financial officer now directly owns 71,096 shares of the company’s stock, valued at approximately $16,908,761.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the acquisition, the insider now directly 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 disclosure for this purchase can be found here. Over the last quarter, insiders sold 21,779 shares of company stock valued at $3,825,046. Insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Impinj by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after buying an additional 35,893 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Impinj during the 2nd quarter valued at about $103,252,000. Janus Henderson Group PLC increased its stake in shares of Impinj by 0.6% in the 1st quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock valued at $56,376,000 after purchasing an additional 2,681 shares in the last quarter. Jennison Associates LLC acquired a new position in Impinj in the 1st quarter worth about $25,747,000. Finally, Renaissance Technologies LLC purchased a new position in Impinj during the second quarter worth approximately $30,116,000.

Impinj Company Profile

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.