The Goldman Sachs Group Has Lowered Expectations for Impinj (NASDAQ:PI) Stock Price

Impinj (NASDAQ:PI) had its target price reduced by The Goldman Sachs Group from $200.00 to $132.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 25.26% from the company’s previous close.

Other research analysts have also issued reports about the company. Needham & Company LLC lowered their target price on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Cantor Fitzgerald reduced their target price on Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday. Susquehanna lowered their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Finally, 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $180.10.

Impinj Trading Down 2.2 %

Shares of PI stock opened at $105.38 on Thursday. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 118.40 and a beta of 1.88. The business’s 50-day moving average price is $147.02 and its 200-day moving average price is $172.62. Impinj has a 12 month low of $97.77 and a 12 month high of $239.88.

Impinj (NASDAQ:PI) last posted its 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 predict that Impinj will post 0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Impinj news, insider Sylebra Capital Llc sold 2,550 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $195.41, for a total value of $498,295.50. Following the transaction, the insider now owns 2,129,260 shares in the company, valued at approximately $416,078,696.60. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jeffrey Dossett sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $181.17, for a total value of $1,358,775.00. Following the sale, the executive now owns 65,294 shares of the company’s stock, valued at approximately $11,829,313.98. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,132 shares of company stock worth $18,510,291. 51.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PI. First Bank & Trust grew its holdings in Impinj by 3.2% during the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after buying an additional 55 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Impinj by 0.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock worth $1,612,000 after acquiring an additional 100 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of Impinj in the 3rd quarter worth $30,000. Farther Finance Advisors LLC raised its holdings 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 purchasing an additional 141 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Impinj by 29.7% during the third quarter. KBC Group NV now owns 681 shares of the company’s stock valued at $147,000 after purchasing an additional 156 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.