Impinj (NASDAQ:PI) Sets New 12-Month High at $204.99

Impinj, Inc. (NASDAQ:PI) shares reached a new 52-week high on Monday . The stock traded as high as $204.99 and last traded at $204.07, with a volume of 26782 shares. The stock had previously closed at $201.99.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PI. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Evercore ISI boosted their target price on Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Roth Mkm lifted their price target on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Susquehanna lifted their price target on Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Finally, Lake Street Capital boosted their target price on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $187.10.

Impinj Trading Up 1.3 %

The company has a market cap of $5.67 billion, a PE ratio of -577.11 and a beta of 1.78. The firm has a 50 day moving average of $165.49 and a two-hundred day moving average of $152.51.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The company had revenue of $102.50 million for the quarter, compared to the consensus estimate of $97.47 million. During the same quarter in the prior year, the business posted ($0.14) EPS. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. On average, research analysts forecast that Impinj, Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was purchased at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the transaction, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, COO Hussein Mecklai sold 416 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $175.43, for a total transaction of $72,978.88. Following the completion of the sale, the chief operating officer now directly owns 58,104 shares of the company’s stock, valued at approximately $10,193,184.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,111 shares of company stock valued at $4,485,855. 51.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Impinj

A number of large investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC acquired a new position in Impinj in the 1st quarter worth approximately $32,000. SouthState Corp acquired a new stake in shares of Impinj in the second quarter valued at approximately $94,000. nVerses Capital LLC boosted its stake in Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after buying an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Impinj by 117.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after acquiring an additional 521 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. grew its stake in shares of Impinj by 211.2% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after buying an additional 549 shares during the period.

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.