Impinj (NASDAQ:PI) Upgraded at Cantor Fitzgerald

Impinj (NASDAQ:PI - Get Free Report) was upgraded by investment analysts at Cantor Fitzgerald to a "strong-buy" rating in a research report issued on Thursday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler cut their target price on Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Needham & Company LLC cut their price objective on Impinj from $182.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Susquehanna lowered their target price on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a report on Wednesday, January 22nd. StockNews.com downgraded shares of Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group lowered their price objective on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Impinj has an average rating of "Moderate Buy" and an average target price of $180.10.

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Impinj Price Performance

Shares of NASDAQ PI traded up $2.47 during midday trading on Thursday, hitting $90.20. 845,439 shares of the company's stock were exchanged, compared to its average volume of 518,953. The firm has a market cap of $2.57 billion, a P/E ratio of 66.32 and a beta of 1.88. Impinj has a twelve month low of $84.50 and a twelve month high of $239.88. The stock's 50 day moving average price is $125.75 and its 200-day moving average price is $166.47.

Impinj (NASDAQ:PI - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. On average, analysts expect that Impinj will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Impinj news, insider Cathal G. Phelan sold 210 shares of the company's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $30,672.60. Following the transaction, the insider now owns 6,979 shares in the company, valued at approximately $1,019,352.74. This represents a 2.92 % decrease in their position. The transaction 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 Impinj stock in a transaction on Tuesday, December 24th. The shares were 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 of the company's stock, valued at approximately $48,482,457.84. The trade was a 0.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,323 shares of company stock valued at $2,454,588. Company insiders own 51.00% of the company's stock.

Institutional Investors Weigh In On Impinj

Several institutional investors and hedge funds have recently modified their holdings of PI. Capital International Investors increased its position in Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock worth $221,897,000 after buying an additional 473,721 shares during the period. Janus Henderson Group PLC increased its position in Impinj by 3,824.4% during the fourth quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock worth $63,310,000 after acquiring an additional 424,851 shares during the period. Norges Bank acquired a new position in Impinj during the 4th quarter valued at $40,100,000. Sylebra Capital LLC boosted its holdings in Impinj by 8.6% in the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock valued at $504,360,000 after purchasing an additional 274,764 shares during the period. Finally, State Street Corp boosted its holdings in Impinj by 25.7% in the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company's stock valued at $233,555,000 after purchasing an additional 220,776 shares during the period.

About Impinj

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.