Impinj (NASDAQ:PI) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Impinj (NASDAQ:PI) from a hold rating to a sell rating in a research note released on Friday morning.

PI has been the subject of a number of other reports. Cantor Fitzgerald increased their price target on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group increased their target price on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Evercore ISI restated an “outperform” rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Piper Sandler reiterated an “overweight” rating and set a $235.00 price objective (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Lake Street Capital lifted their target price on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Impinj has an average rating of “Moderate Buy” and a consensus target price of $214.30.

Impinj Trading Down 2.3 %

NASDAQ PI opened at $136.21 on Friday. The company has a 50-day moving average price of $158.20 and a two-hundred day moving average price of $175.41. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 153.04 and a beta of 1.88. Impinj has a 52 week low of $95.96 and a 52 week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly 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. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. During the same period in the previous year, the firm earned ($0.36) EPS. Impinj’s revenue was up 46.5% on a year-over-year basis. As a group, equities research analysts expect that Impinj will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 34,474 shares of Impinj stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $201.51, for a total value of $6,946,855.74. Following the completion of the sale, the chief executive officer now directly owns 294,438 shares in the company, valued at $59,332,201.38. The trade was a 10.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Sylebra Capital Llc sold 32,031 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $195.35, for a total transaction of $6,257,255.85. Following the transaction, the insider now owns 3,021,548 shares in the company, valued at approximately $590,259,401.80. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 655,038 shares of company stock worth $131,064,693. 51.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Impinj

Hedge funds have recently bought and sold shares of the business. National Bank of Canada FI acquired a new stake in shares of Impinj in the third quarter worth $30,000. Farther Finance Advisors LLC lifted its stake in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after buying an additional 141 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Impinj during the third quarter worth about $54,000. Spire Wealth Management bought a new position in Impinj during the fourth quarter valued at about $87,000. Finally, KBC Group NV raised its holdings in Impinj by 33.5% in the 4th quarter. KBC Group NV now owns 909 shares of the company’s stock valued at $132,000 after acquiring an additional 228 shares in the last quarter.

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.