Impinj (NASDAQ:PI) Price Target Lowered to $132.00 at The Goldman Sachs Group

Impinj (NASDAQ:PI) had its target price cut by investment analysts at The Goldman Sachs Group from $200.00 to $132.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 18.37% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Piper Sandler reduced their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday. Cantor Fitzgerald reduced their price objective on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Evercore ISI restated an “outperform” rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Finally, Needham & Company LLC reduced their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and an average target price of $180.10.

Impinj Price Performance

NASDAQ PI traded down $15.55 on Thursday, hitting $111.51. 3,387,993 shares of the stock were exchanged, compared to its average volume of 790,752. The business’s fifty day moving average is $149.90 and its 200 day moving average is $173.40. Impinj has a 52 week low of $97.77 and a 52 week high of $239.88. The company has a market capitalization of $3.15 billion, a PE ratio of 124.97 and a beta of 1.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. Analysts predict that Impinj will post 0.44 EPS for the current fiscal year.

Insider Transactions at Impinj

In related news, CFO Cary Baker sold 290 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $140.96, for a total value of $40,878.40. Following the transaction, the chief financial officer now owns 71,754 shares in the company, valued at approximately $10,114,443.84. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Sylebra Capital Llc sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $203.00, for a total value of $50,750,000.00. Following the completion of the transaction, the insider now owns 2,222,352 shares in the company, valued at approximately $451,137,456. The trade was a 10.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 355,681 shares of company stock worth $71,579,446 in the last 90 days. Insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Impinj by 10.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 213,398 shares of the company’s stock worth $30,998,000 after purchasing an additional 20,158 shares during the period. Meridian Wealth Management LLC bought a new position in shares of Impinj in the fourth quarter worth $291,000. SBI Securities Co. Ltd. bought a new position in shares of Impinj in the fourth quarter worth $33,000. Jones Financial Companies Lllp increased its holdings in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after purchasing an additional 175 shares during the period. Finally, Bailard Inc. bought a new position in Impinj in the fourth quarter valued at $316,000.

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.