Impinj (NASDAQ:PI) Sets New 1-Year High Following Insider Buying Activity

Shares of Impinj, Inc. (NASDAQ:PI) hit a new 52-week high during trading on Tuesday following insider buying activity. The stock traded as high as $191.00 and last traded at $189.93, with a volume of 55286 shares traded. The stock had previously closed at $186.62.

Specifically, 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 bought at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $195.00 price objective on shares of Impinj in a research report on Thursday, July 25th. Roth Mkm upped their price objective on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Lake Street Capital lifted 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. Cantor Fitzgerald restated an “overweight” rating and issued a $205.00 price target on shares of Impinj in a research note on Thursday, July 25th. Finally, Susquehanna increased their price objective on shares of Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. 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, Impinj has an average rating of “Moderate Buy” and a consensus target price of $187.10.

Impinj Stock Up 3.5 %

The company has a market cap of $5.37 billion, a PE ratio of -554.00 and a beta of 1.78. The firm has a 50 day simple moving average of $164.16 and a 200-day simple moving average of $150.97.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. The firm had revenue of $102.50 million during the quarter, compared to analyst estimates of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. Impinj’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.14) EPS. As a group, equities analysts anticipate that Impinj, Inc. will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital International Investors acquired a new position in shares of Impinj in the 4th quarter valued at $68,211,000. Assenagon Asset Management S.A. purchased a new stake in Impinj in the second quarter valued at approximately $103,252,000. Jennison Associates LLC acquired a new position in Impinj in the 1st quarter worth approximately $25,747,000. Renaissance Technologies LLC acquired a new stake in shares of Impinj in the second quarter worth $30,116,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Impinj during the first quarter worth $19,195,000.

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.