Impinj (NASDAQ:PI) Trading Up 6.1% Following Analyst Upgrade

Impinj, Inc. (NASDAQ:PI - Get Free Report) shares shot up 6.1% during mid-day trading on Friday after The Goldman Sachs Group raised their price target on the stock from $165.00 to $200.00. The Goldman Sachs Group currently has a neutral rating on the stock. Impinj traded as high as $206.00 and last traded at $203.89. 528,736 shares changed hands during trading, an increase of 13% from the average session volume of 466,757 shares. The stock had previously closed at $192.21.

Several other equities analysts have also commented on the company. StockNews.com raised Impinj from a "sell" rating to a "hold" rating in a research note on Friday, July 26th. Susquehanna increased their target price on shares of Impinj from $215.00 to $260.00 and gave the company a "positive" rating in a research note on Monday. Cantor Fitzgerald lifted their price target on shares of Impinj from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Thursday. Lake Street Capital lifted their price target on shares of Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Roth Mkm lifted their price target on shares of Impinj from $145.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $224.60.

Insiders Place Their Bets

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 shares were purchased at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the transaction, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of Impinj stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares of the company's stock, valued at approximately $155,006,638.64. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Jeffrey Dossett sold 15,000 shares of Impinj stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the completion of the sale, the executive now directly owns 63,642 shares of the company's stock, valued at approximately $10,043,344.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,779 shares of company stock worth $3,825,046 in the last quarter. Corporate insiders own 51.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Impinj in the first quarter valued at $513,000. TimesSquare Capital Management LLC purchased a new position in Impinj in the first quarter valued at about $19,195,000. Harbor Capital Advisors Inc. lifted its position in shares of Impinj by 112.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company's stock worth $2,122,000 after purchasing an additional 7,151 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Impinj by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company's stock valued at $7,990,000 after purchasing an additional 7,247 shares during the period. Finally, Vanguard Group Inc. grew its position in Impinj by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company's stock worth $322,384,000 after acquiring an additional 35,893 shares during the last quarter.

Impinj Trading Up 4.4 %

The firm has a fifty day simple moving average of $195.60 and a 200-day simple moving average of $168.43. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 704.48 and a beta of 1.80.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share 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 company had revenue of $95.20 million during the quarter, compared to analysts' expectations of $92.86 million. During the same quarter last year, the company earned ($0.36) EPS. Impinj's revenue for the quarter was up 46.5% compared to the same quarter last year. On average, equities analysts predict that Impinj, Inc. will post 0.31 earnings per share for the current fiscal year.

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.