Impinj (NASDAQ:PI - Free Report) had its price objective reduced by Cantor Fitzgerald from $260.00 to $133.00 in a report issued on Thursday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.
A number of other brokerages have also recently issued reports on PI. The Goldman Sachs Group lifted 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, October 25th. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Piper Sandler decreased their target price on Impinj from $235.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday. Susquehanna dropped their target price 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, Needham & Company LLC reduced their price target on shares of Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Impinj has a consensus rating of "Moderate Buy" and an average price target of $180.10.
View Our Latest Research Report on PI
Impinj Trading Down 0.6 %
Shares of NASDAQ:PI traded down $0.61 on Thursday, hitting $104.77. The company had a trading volume of 787,417 shares, compared to its average volume of 852,677. The stock has a 50 day moving average price of $145.29 and a 200 day moving average price of $172.30. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 77.04 and a beta of 1.88. Impinj has a 1-year low of $97.77 and a 1-year high of $239.88.
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 7.69%. Sell-side analysts anticipate that Impinj will post 1.05 earnings per share for the current fiscal year.
Insider Activity at Impinj
In other news, insider Sylebra Capital Llc sold 2,550 shares of Impinj stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $195.41, for a total transaction of $498,295.50. Following the completion of the transaction, the insider now directly owns 2,129,260 shares in the company, valued at approximately $416,078,696.60. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jeffrey Dossett sold 7,500 shares of Impinj stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $181.17, for a total value of $1,358,775.00. Following the completion of the transaction, the executive now directly 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 quarter, insiders sold 15,516 shares of company stock valued at $2,646,368. Company insiders own 51.00% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its position in shares of Impinj by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 12,753 shares of the company's stock worth $1,999,000 after buying an additional 317 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj during the 3rd quarter worth approximately $54,000. USA Financial Formulas boosted its position in shares of Impinj by 82.0% during the 3rd quarter. USA Financial Formulas now owns 657 shares of the company's stock valued at $142,000 after acquiring an additional 296 shares during the last quarter. Creative Planning grew its holdings in shares of Impinj by 23.4% in the third quarter. Creative Planning now owns 12,046 shares of the company's stock valued at $2,608,000 after purchasing an additional 2,287 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. increased its position in Impinj by 70.0% in the third quarter. Jamison Private Wealth Management Inc. now owns 1,375 shares of the company's stock worth $298,000 after purchasing an additional 566 shares during the last quarter.
About Impinj
(
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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.
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