Piper Sandler Issues Pessimistic Forecast for Impinj (NASDAQ:PI) Stock Price

Impinj (NASDAQ:PI - Get Free Report) had its price target decreased by equities researchers at Piper Sandler from $235.00 to $140.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price target would suggest a potential upside of 33.63% from the company's current price.

Several other brokerages also recently weighed in on PI. Evercore ISI restated an "outperform" rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Needham & Company LLC reduced their price objective on shares of Impinj from $245.00 to $182.00 and set a "buy" rating for the company in a research note on Friday, January 17th. The Goldman Sachs Group upped their target price on shares of Impinj from $165.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. StockNews.com downgraded shares of Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Finally, Cantor Fitzgerald upped their price objective on Impinj from $205.00 to $260.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $180.10.

Impinj Stock Down 0.6 %

Shares of NASDAQ:PI traded down $0.61 during midday trading on Thursday, hitting $104.77. 712,162 shares of the stock traded hands, compared to its average volume of 850,744. The stock has a market capitalization of $2.96 billion, a PE ratio of 77.04 and a beta of 1.88. Impinj has a one year low of $97.77 and a one year high of $239.88. The business's 50 day moving average is $145.29 and its two-hundred day moving average is $172.30.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.69%. As a group, sell-side analysts forecast that Impinj will post 1.05 earnings per share for the current year.

Insider Activity at Impinj

In other Impinj 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 transaction, the insider now owns 2,129,260 shares of the company's stock, valued at $416,078,696.60. The trade was a 0.12 % 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, CRO Jeffrey Dossett sold 7,500 shares of Impinj stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the transaction, the executive now owns 65,294 shares in the company, valued at approximately $11,829,313.98. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,516 shares of company stock worth $2,646,368. 51.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC increased its holdings in shares of Impinj by 210.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company's stock worth $1,855,000 after buying an additional 5,807 shares during the last quarter. Nordea Investment Management AB purchased a new stake in Impinj during the fourth quarter valued at approximately $3,341,000. Thrivent Financial for Lutherans bought a new stake in shares of Impinj in the 3rd quarter valued at approximately $3,872,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Impinj in the 3rd quarter valued at approximately $846,000. Finally, Intech Investment Management LLC purchased a new position in Impinj during the third quarter worth $1,437,000.

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.