The Goldman Sachs Group Increases Impinj (NASDAQ:PI) Price Target to $200.00

Impinj (NASDAQ:PI) had its target price boosted by investment analysts at The Goldman Sachs Group from $165.00 to $200.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 0.35% from the company’s previous close.

Other analysts have also issued reports about the company. Cantor Fitzgerald boosted their target price on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday. Piper Sandler reissued an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a research report on Thursday. Lake Street Capital upped their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Roth Mkm raised their price objective 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Impinj has an average rating of “Moderate Buy” and an average price target of $224.60.

Impinj Trading Up 4.4 %

PI stock opened at $200.70 on Friday. The firm has a market cap of $5.64 billion, a PE ratio of 692.07 and a beta of 1.80. The stock has a 50-day moving average price of $196.40 and a 200-day moving average price of $169.26. Impinj has a 1-year low of $58.56 and a 1-year high of $239.88.

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

Insiders Place Their Bets

In related news, insider Cathal G. Phelan sold 209 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total transaction of $43,712.35. Following the completion of the sale, the insider now directly owns 17,647 shares of the company’s stock, valued at approximately $3,690,870.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Impinj news, CFO Cary Baker sold 366 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $237.83, for a total value of $87,045.78. Following the transaction, the chief financial officer now directly owns 71,096 shares in the company, valued at $16,908,761.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cathal G. Phelan sold 209 shares of Impinj stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total transaction of $43,712.35. Following the completion of the sale, the insider now directly owns 17,647 shares in the company, valued at $3,690,870.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,779 shares of company stock valued at $3,825,046. Corporate insiders own 51.00% of the company’s stock.

Institutional Trading of Impinj

A number of large investors have recently bought and sold shares of PI. First Bank & Trust boosted its position in Impinj by 3.2% during the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after purchasing an additional 55 shares during the period. Hsbc Holdings PLC grew its stake in Impinj by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after buying an additional 190 shares in the last quarter. Rhumbline Advisers raised its holdings in Impinj by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock valued at $5,158,000 after acquiring an additional 248 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj during the first quarter worth $32,000. Finally, Arizona State Retirement System boosted its holdings in shares of Impinj by 4.1% in the second quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock worth $1,032,000 after acquiring an additional 261 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.