Cantor Fitzgerald Cuts Impinj (NASDAQ:PI) Price Target to $133.00

Impinj (NASDAQ:PI) had its price objective reduced by research analysts at Cantor Fitzgerald from $260.00 to $133.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 26.21% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. Susquehanna cut their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. The Goldman Sachs Group increased their price objective on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Finally, Lake Street Capital increased their price target on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.10.

Impinj Stock Down 2.2 %

Shares of NASDAQ:PI opened at $105.38 on Thursday. The firm has a 50 day moving average of $147.02 and a 200 day moving average of $172.62. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 118.40 and a beta of 1.88. Impinj has a 52 week low of $97.77 and a 52 week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. On average, sell-side analysts expect that Impinj will post 0.44 EPS for the current year.

Insider Activity

In other news, major shareholder Sylebra Capital Llc sold 78,616 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $201.79, for a total value of $15,863,922.64. Following the sale, the insider now owns 2,143,736 shares in the company, valued at $432,584,487.44. This represents a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chris Ph.D. Diorio sold 1,504 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.22, for a total value of $219,914.88. Following the sale, the chief executive officer now directly owns 331,572 shares in the company, valued at approximately $48,482,457.84. This trade represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,132 shares of company stock valued at $18,510,291. Company insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

Several hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC increased its stake in shares of Impinj by 210.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock valued at $1,855,000 after purchasing an additional 5,807 shares in the last quarter. Nordea Investment Management AB acquired a new stake in Impinj in the fourth quarter valued at approximately $3,341,000. Thrivent Financial for Lutherans purchased a new stake in shares of Impinj in the third quarter valued at approximately $3,872,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Impinj during the 3rd quarter worth approximately $846,000. Finally, Intech Investment Management LLC purchased a new position in shares of Impinj during the 3rd quarter valued at approximately $1,437,000.

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.