Cantor Fitzgerald Boosts Impinj (NASDAQ:PI) Price Target to $260.00

Impinj (NASDAQ:PI) had its price objective upped by Cantor Fitzgerald from $205.00 to $260.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 35.97% from the company’s previous close.

PI has been the subject of several other reports. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a research note on Thursday. Needham & Company LLC upped their target price on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday. Roth Mkm upped their target price on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Piper Sandler reissued an “overweight” rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a research note on Thursday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $220.20.

Impinj Price Performance

NASDAQ:PI traded down $31.24 during trading hours on Thursday, reaching $191.22. The company had a trading volume of 1,325,749 shares, compared to its average volume of 462,052. Impinj has a 1-year low of $48.39 and a 1-year high of $239.88. The firm has a market cap of $5.38 billion, a PE ratio of 659.38 and a beta of 1.80. The business’s 50 day moving average price is $195.01 and its 200-day moving average price is $168.26.

Impinj (NASDAQ:PI) last announced its quarterly 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 the consensus estimate of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. Impinj’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.14) earnings per share. On average, analysts expect that Impinj will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other Impinj news, CRO Jeffrey Dossett sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total value of $2,367,150.00. Following the completion of the sale, the executive now directly owns 63,642 shares in the company, valued at $10,043,344.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Impinj news, CRO Jeffrey Dossett sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total value of $2,367,150.00. Following the completion of the sale, the executive now directly owns 63,642 shares in the company, valued at $10,043,344.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cathal G. Phelan sold 677 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $162.46, for a total value of $109,985.42. Following the completion of the sale, the insider now owns 17,367 shares of the company’s stock, valued at approximately $2,821,442.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,779 shares of company stock worth $3,825,046 in the last three months. 51.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Impinj

Hedge funds have recently modified their holdings of the business. First Bank & Trust lifted its stake in Impinj by 3.2% during the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after acquiring an additional 55 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Impinj by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after acquiring an additional 190 shares in the last quarter. Rhumbline Advisers lifted its stake in Impinj by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after acquiring an additional 248 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in Impinj during the 1st quarter worth about $32,000. Finally, Arizona State Retirement System lifted its stake in Impinj by 4.1% during the 2nd quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock worth $1,032,000 after acquiring an additional 261 shares in 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.