Impinj (NASDAQ:PI) Shares Gap Up to $152.55

Shares of Impinj, Inc. (NASDAQ:PI) gapped up before the market opened on Thursday . The stock had previously closed at $152.55, but opened at $163.48. Impinj shares last traded at $157.60, with a volume of 33,625 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Evercore ISI assumed coverage on shares of Impinj in a research note on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Impinj in a research note on Monday, May 13th. They set a “buy” rating and a $200.00 price target for the company. Piper Sandler raised their price target on shares of Impinj from $150.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Roth Mkm raised their price target on shares of Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $205.00 target price on shares of Impinj in a report on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Impinj currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.60.

Impinj Stock Up 3.2 %

The firm’s fifty day moving average price is $161.16 and its two-hundred day moving average price is $133.22. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of -450.29 and a beta of 1.78. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 6.87.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The firm had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. Sell-side analysts forecast that Impinj, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Impinj

In other news, CEO Chris Ph.D. Diorio sold 1,187 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $175.43, for a total transaction of $208,235.41. Following the completion of the sale, the chief executive officer now directly owns 291,412 shares of the company’s stock, valued at $51,122,407.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Impinj news, Director Umesh Padval sold 3,475 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $151.39, for a total value of $526,080.25. Following the completion of the sale, the director now directly owns 3,529 shares of the company’s stock, valued at approximately $534,255.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chris Ph.D. Diorio sold 1,187 shares of the company’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 $208,235.41. Following the completion of the sale, the chief executive officer now directly owns 291,412 shares of the company’s stock, valued at $51,122,407.16. The disclosure for this sale can be found here. Insiders sold a total of 1,097,971 shares of company stock valued at $167,900,777 over the last three months. Corporate insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Impinj by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 180,847 shares of the company’s stock valued at $16,282,000 after acquiring an additional 6,810 shares during the last quarter. K.J. Harrison & Partners Inc bought a new stake in shares of Impinj during the 4th quarter valued at about $1,458,000. Ghisallo Capital Management LLC bought a new stake in shares of Impinj during the 4th quarter valued at about $4,192,000. Eagle Asset Management Inc. boosted its stake in shares of Impinj by 19.6% during the 4th quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock valued at $18,435,000 after purchasing an additional 33,504 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Impinj during the 1st quarter valued at about $513,000.

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.