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

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

Analyst Ratings Changes

PI has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $205.00 target price on shares of Impinj in a report on Thursday, July 25th. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Roth Mkm boosted their price objective on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Evercore ISI boosted their price objective on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Piper Sandler boosted their price objective on Impinj from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Impinj has a consensus rating of “Moderate Buy” and an average price target of $187.10.

Impinj Stock Up 1.3 %

The stock has a fifty day moving average price of $165.49 and a 200-day moving average price of $152.51. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of -577.11 and a beta of 1.78.

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 analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period last year, the company posted ($0.14) earnings per share. As a group, research analysts expect that Impinj, Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other Impinj news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Cary Baker sold 356 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $175.42, for a total value of $62,449.52. Following the completion of the sale, the chief financial officer now owns 69,760 shares of the company’s stock, valued at $12,237,299.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 28,111 shares of company stock valued at $4,485,855. 51.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PI. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Impinj during the second quarter worth about $1,395,000. Creative Planning boosted its stake in shares of Impinj by 13.8% in the second quarter. Creative Planning now owns 9,759 shares of the company’s stock valued at $1,530,000 after buying an additional 1,180 shares during the period. Algert Global LLC raised its stake in Impinj by 399.9% in the second quarter. Algert Global LLC now owns 15,871 shares of the company’s stock valued at $2,488,000 after purchasing an additional 12,696 shares in the last quarter. Scientech Research LLC increased its stake in Impinj by 37.5% in the second quarter. Scientech Research LLC now owns 2,373 shares of the company’s stock valued at $372,000 after acquiring an additional 647 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Impinj in the second quarter valued at about $208,000.

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.