Impinj (NASDAQ:PI) Downgraded by StockNews.com to "Sell"

Impinj (NASDAQ:PI - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Friday.

Several other equities research analysts have also issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Lake Street Capital raised their price objective on Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Evercore ISI reaffirmed an "outperform" rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Susquehanna lowered their price objective on Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group raised their price target on Impinj from $165.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. One equities research 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $214.30.

Impinj Stock Down 2.9 %

NASDAQ PI traded down $4.08 during trading on Friday, hitting $135.39. 121,375 shares of the stock traded hands, compared to its average volume of 665,088. The company has a market capitalization of $3.83 billion, a P/E ratio of 152.03 and a beta of 1.88. The firm has a 50-day simple moving average of $159.88 and a 200-day simple moving average of $175.86. Impinj has a 12-month low of $95.96 and a 12-month high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company's revenue for the quarter was up 46.5% on a year-over-year basis. During the same period last year, the company earned ($0.36) EPS. As a group, research analysts predict that Impinj will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 34,474 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $201.51, for a total transaction of $6,946,855.74. Following the completion of the sale, the chief executive officer now directly owns 294,438 shares in the company, valued at approximately $59,332,201.38. The trade was a 10.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sylebra Capital Llc sold 32,031 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $195.35, for a total value of $6,257,255.85. Following the sale, the insider now owns 3,021,548 shares of the company's stock, valued at approximately $590,259,401.80. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 655,038 shares of company stock worth $131,064,693. 51.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Impinj

Several large investors have recently bought and sold shares of PI. Hsbc Holdings PLC grew its position in shares of Impinj by 7.3% in the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company's stock valued at $432,000 after purchasing an additional 190 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Impinj in the second quarter valued at approximately $204,000. Xponance Inc. purchased a new stake in shares of Impinj in the second quarter valued at approximately $224,000. Marshall Wace LLP grew its position in shares of Impinj by 366.1% in the second quarter. Marshall Wace LLP now owns 7,924 shares of the company's stock valued at $1,242,000 after purchasing an additional 6,224 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Impinj in the second quarter valued at approximately $372,000.

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.