Lake Street Capital Boosts Impinj (NASDAQ:PI) Price Target to $251.00

Impinj (NASDAQ:PI) had its price target upped by research analysts at Lake Street Capital from $190.00 to $251.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s price objective suggests a potential upside of 25.06% from the company’s previous close.

PI has been the topic of a number of other research reports. Susquehanna raised their price objective on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Evercore ISI reiterated an “outperform” rating and set a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research note on Thursday. Roth Mkm raised their target price on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Needham & Company LLC lifted their price target on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Impinj Stock Performance

NASDAQ PI opened at $200.70 on Thursday. Impinj has a one year low of $58.56 and a one year high of $239.88. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 692.07 and a beta of 1.80. The company’s 50-day simple moving average is $196.40 and its two-hundred day simple moving average is $168.96.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. Impinj’s revenue was up 46.5% compared to the same quarter last year. During the same period last year, the company posted ($0.36) earnings per share. Equities analysts expect that Impinj will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of Impinj stock in a transaction on Friday, September 13th. The stock was acquired 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 of the company’s stock, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the acquisition, the insider now directly owns 33,050,456 shares in the company, valued at $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Jeffrey Dossett sold 15,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $10,043,344.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,779 shares of company stock valued at $3,825,046 in the last ninety days. Insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

A number of large investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System purchased a new stake in shares of Impinj during the third quarter worth $1,126,000. State of Alaska Department of Revenue acquired a new position in shares of Impinj during the 3rd quarter worth approximately $2,813,000. First Bank & Trust grew its position in shares of Impinj by 3.2% in the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock valued at $383,000 after purchasing an additional 55 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Impinj by 157.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,278 shares of the company’s stock worth $2,009,000 after buying an additional 5,669 shares in the last quarter. Finally, Consolidated Portfolio Review Corp purchased a new position in Impinj during the third quarter worth approximately $1,861,000.

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.