Impinj (NASDAQ:PI) Downgraded by StockNews.com

StockNews.com downgraded shares of Impinj (NASDAQ:PI) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Other equities analysts have also issued reports about the company. Needham & Company LLC upped their target price on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday. The Goldman Sachs Group increased their price objective on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday. Piper Sandler reissued an “overweight” rating and issued a $235.00 target price (up previously from $225.00) on shares of Impinj in a research report on Thursday. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $205.00) on shares of Impinj in a research report on Thursday. Finally, Roth Mkm lifted their price target on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $224.60.

Impinj Stock Performance

PI stock opened at $200.70 on Friday. The stock has a 50-day simple moving average of $196.40 and a 200-day simple moving average of $169.26. The firm has a market cap of $5.64 billion, a P/E ratio of 692.07 and a beta of 1.80. Impinj has a 1 year low of $58.56 and a 1 year high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business’s quarterly revenue was up 46.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.36) earnings per share. On average, equities research analysts predict that Impinj will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Cary Baker sold 366 shares of Impinj stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $237.83, for a total transaction of $87,045.78. Following the sale, the chief financial officer now directly owns 71,096 shares in the company, valued at $16,908,761.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of Impinj stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the acquisition, the insider now directly owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 21,779 shares of company stock valued at $3,825,046 over the last quarter. Insiders own 51.00% of the company’s stock.

Institutional Trading of Impinj

Institutional investors have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj during the 1st quarter valued at $32,000. Deltec Asset Management LLC bought a new stake in Impinj in the first quarter worth about $584,000. Principal Financial Group Inc. lifted its holdings in Impinj by 16.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,137 shares of the company’s stock valued at $403,000 after acquiring an additional 454 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Impinj by 13.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock valued at $7,990,000 after purchasing an additional 7,247 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Impinj in the 1st quarter worth approximately $25,747,000.

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.