Impinj (NASDAQ:PI) Given New $260.00 Price Target at Susquehanna

Impinj (NASDAQ:PI) had its price target hoisted by analysts at Susquehanna from $215.00 to $260.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price target points to a potential upside of 16.33% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $205.00 price target on shares of Impinj in a research note on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Impinj in a report on Thursday, July 25th. Lake Street Capital raised their target price on Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Roth Mkm upped their price target on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Evercore ISI raised their price objective on Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Two equities research 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.10.

Impinj Price Performance

PI stock opened at $223.50 on Monday. Impinj has a 1 year low of $48.39 and a 1 year high of $239.88. The firm has a market capitalization of $6.28 billion, a PE ratio of 770.69 and a beta of 1.80. The business has a 50 day simple moving average of $193.65 and a 200-day simple moving average of $167.88.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $97.47 million. During the same period in the prior year, the business earned ($0.14) EPS. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. On average, equities research analysts expect that Impinj will post 0.31 EPS for the current year.

Insider Activity

In related news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the transaction, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Impinj news, CRO Jeffrey Dossett sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive now owns 63,642 shares in the company, valued at $10,043,344.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of Impinj 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 acquisition, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their position. 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. 51.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Impinj

Several large investors have recently bought and sold shares of PI. Future Financial Wealth Managment LLC purchased a new position in Impinj in the first quarter valued at approximately $32,000. SouthState Corp acquired a new stake in Impinj during the 2nd quarter worth $94,000. USA Financial Formulas lifted its position in Impinj by 82.0% in the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock valued at $142,000 after acquiring an additional 296 shares during the last quarter. nVerses Capital LLC increased its position in shares of Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after purchasing an additional 300 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its holdings 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 purchasing an additional 549 shares during the last quarter.

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.