Susquehanna Has Lowered Expectations for Impinj (NASDAQ:PI) Stock Price

Impinj (NASDAQ:PI) had its price target decreased by Susquehanna from $260.00 to $220.00 in a report released on Wednesday,Benzinga reports. Susquehanna currently has a positive rating on the stock.

Other equities analysts have also recently issued reports about the company. Evercore ISI restated an “outperform” rating and set a $270.00 price objective (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a report on Thursday, January 16th. Lake Street Capital boosted their price objective on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Cantor Fitzgerald lifted their target price on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price target on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Impinj has an average rating of “Moderate Buy” and a consensus price target of $214.30.

Impinj Stock Performance

Shares of Impinj stock opened at $138.74 on Wednesday. Impinj has a 1 year low of $95.96 and a 1 year high of $239.88. The firm’s 50-day simple moving average is $160.82 and its 200-day simple moving average is $176.12. The firm has a market cap of $3.92 billion, a PE ratio of 155.89 and a beta of 1.88.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. Impinj’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.36) EPS. On average, equities analysts predict that Impinj will post 0.44 earnings per share for the current year.

Insider Activity at Impinj

In other news, CFO Cary Baker sold 290 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $140.96, for a total value of $40,878.40. Following the completion of the sale, the chief financial officer now directly owns 71,754 shares of the company’s stock, valued at approximately $10,114,443.84. This represents a 0.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Hussein Mecklai sold 338 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $141.02, for a total transaction of $47,664.76. Following the transaction, the chief operating officer now owns 61,586 shares in the company, valued at $8,684,857.72. This represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 655,038 shares of company stock worth $131,064,693 in the last three months. 51.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Impinj

Several hedge funds have recently modified their holdings of PI. KBC Group NV boosted its position in shares of Impinj by 33.5% during the 4th quarter. KBC Group NV now owns 909 shares of the company’s stock valued at $132,000 after purchasing an additional 228 shares in the last quarter. Jamison Private Wealth Management Inc. lifted its stake in Impinj by 91.9% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 2,638 shares of the company’s stock valued at $383,000 after purchasing an additional 1,263 shares during the last quarter. Inspire Investing LLC boosted its holdings in Impinj by 45.0% during the fourth quarter. Inspire Investing LLC now owns 2,752 shares of the company’s stock worth $400,000 after buying an additional 854 shares in the last quarter. Harbour Capital Advisors LLC grew its position in Impinj by 14.1% in the fourth quarter. Harbour Capital Advisors LLC now owns 3,445 shares of the company’s stock worth $521,000 after buying an additional 425 shares during the last quarter. Finally, Diversified Trust Co increased its holdings in shares of Impinj by 11.9% in the fourth quarter. Diversified Trust Co now owns 2,251 shares of the company’s stock valued at $327,000 after buying an additional 240 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.