Impinj (NASDAQ:PI) Now Covered by Evercore ISI

Evercore ISI initiated coverage on shares of Impinj (NASDAQ:PI) in a research note published on Tuesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $160.00 price objective on the stock.

PI has been the topic of a number of other research reports. Roth Mkm increased their target price on Impinj from $115.00 to $125.00 and gave the company a buy rating in a research report on Thursday, March 14th. Canaccord Genuity Group raised their price objective on Impinj from $130.00 to $150.00 and gave the company a buy rating in a report on Thursday, March 14th. The Goldman Sachs Group raised their price objective on Impinj from $89.00 to $115.00 and gave the company a buy rating in a report on Friday, February 9th. StockNews.com upgraded Impinj to a sell rating in a report on Friday, February 9th. Finally, Needham & Company LLC raised their price objective on Impinj from $120.00 to $130.00 and gave the company a buy rating in a report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Impinj presently has an average rating of Moderate Buy and an average target price of $119.44.

Impinj Stock Performance

Shares of NASDAQ PI opened at $116.32 on Tuesday. Impinj has a 12 month low of $48.39 and a 12 month high of $141.68. The firm’s 50 day simple moving average is $116.30 and its 200-day simple moving average is $92.16. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The business had revenue of $70.65 million for the quarter, compared to analysts’ expectations of $67.10 million. As a group, sell-side analysts anticipate that Impinj will post -0.62 EPS for the current year.

Insider Transactions at Impinj

In other news, COO Hussein Mecklai sold 435 shares of Impinj stock in a transaction on Monday, April 15th. The stock was sold at an average price of $118.75, for a total transaction of $51,656.25. Following the transaction, the chief operating officer now owns 55,414 shares in the company, valued at approximately $6,580,412.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Cary Baker sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the completion of the sale, the chief financial officer now directly owns 55,432 shares of the company’s stock, valued at approximately $5,661,824.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Hussein Mecklai sold 435 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $118.75, for a total value of $51,656.25. Following the sale, the chief operating officer now directly owns 55,414 shares of the company’s stock, valued at $6,580,412.50. The disclosure for this sale can be found here. Insiders have sold a total of 120,185 shares of company stock worth $12,767,674 in the last quarter. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Impinj

Hedge funds and other institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC acquired a new position in Impinj in the 1st quarter valued at about $32,000. Advisors Asset Management Inc. acquired a new position in Impinj in the 1st quarter valued at about $39,000. GAMMA Investing LLC acquired a new position in Impinj in the 4th quarter valued at about $40,000. KBC Group NV acquired a new position in Impinj in the 4th quarter valued at about $47,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Impinj in the 3rd quarter valued at about $55,000.

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.