IMPINJ (PI) Lifted to Overweight at Piper Jaffray Companies

Piper Jaffray Companies upgraded shares of IMPINJ (NASDAQ:PI) from a neutral rating to an overweight rating in a research report report published on Tuesday morning, MarketBeat.com reports.

Other equities analysts also recently issued reports about the company. BidaskClub downgraded IMPINJ from a strong-buy rating to a buy rating in a research note on Tuesday, October 10th. Needham & Company LLC cut their target price on IMPINJ from $48.00 to $45.00 and set a buy rating for the company in a research note on Thursday, October 26th. Zacks Investment Research raised IMPINJ from a sell rating to a buy rating and set a $39.00 target price for the company in a research note on Wednesday, October 25th. Canaccord Genuity reissued a buy rating and set a $35.00 target price (down from $50.00) on shares of IMPINJ in a research note on Thursday, November 2nd. Finally, Dougherty & Co cut their target price on IMPINJ from $62.00 to $42.00 and set a buy rating for the company in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $26.29.

IMPINJ (NASDAQ:PI) opened at $12.27 on Tuesday. The stock has a market capitalization of $257.16 and a P/E ratio of -32.29. IMPINJ has a one year low of $11.31 and a one year high of $60.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.97 and a current ratio of 7.49.

In related news, insider Eric Brodersen sold 5,400 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $25.43, for a total value of $137,322.00. Following the completion of the transaction, the insider now directly owns 78,743 shares of the company’s stock, valued at approximately $2,002,434.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Evan Fein sold 5,700 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $25.01, for a total value of $142,557.00. Following the completion of the transaction, the chief financial officer now directly owns 17,500 shares of the company’s stock, valued at $437,675. The disclosure for this sale can be found here. Insiders sold a total of 14,400 shares of company stock valued at $363,006 over the last ninety days. 15.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC increased its position in IMPINJ by 4.0% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 2,191,393 shares of the company’s stock worth $91,184,000 after buying an additional 84,514 shares in the last quarter. BlackRock Inc. increased its position in IMPINJ by 0.4% during the fourth quarter. BlackRock Inc. now owns 1,149,501 shares of the company’s stock worth $25,898,000 after buying an additional 4,263 shares in the last quarter. Allianz Asset Management GmbH increased its position in IMPINJ by 661.1% during the third quarter. Allianz Asset Management GmbH now owns 775,896 shares of the company’s stock worth $32,285,000 after buying an additional 673,948 shares in the last quarter. Hood River Capital Management LLC increased its position in IMPINJ by 1.1% during the third quarter. Hood River Capital Management LLC now owns 739,823 shares of the company’s stock worth $30,784,000 after buying an additional 7,858 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its position in IMPINJ by 125.4% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 643,979 shares of the company’s stock worth $26,795,000 after buying an additional 358,279 shares in the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

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About IMPINJ

Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.

Analyst Recommendations for IMPINJ (NASDAQ:PI)

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