Impinj (NASDAQ:PI - Get Free Report) had its price objective decreased by investment analysts at The Goldman Sachs Group from $200.00 to $132.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective would suggest a potential upside of 25.91% from the company's current price.
Other equities research analysts have also issued reports about the company. Needham & Company LLC cut their price objective on Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday. Evercore ISI restated an "outperform" rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Susquehanna lowered their price objective 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 target price on Impinj from $235.00 to $140.00 and set an "overweight" rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Impinj presently has an average rating of "Moderate Buy" and an average target price of $180.10.
Check Out Our Latest Report on PI
Impinj Stock Performance
NASDAQ:PI traded down $0.54 during mid-day trading on Thursday, reaching $104.84. The stock had a trading volume of 969,034 shares, compared to its average volume of 865,086. Impinj has a one year low of $97.77 and a one year high of $239.88. The firm has a 50 day moving average price of $145.29 and a two-hundred day moving average price of $172.30. The stock has a market capitalization of $2.97 billion, a P/E ratio of 77.09 and a beta of 1.88.
Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) 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%. Research analysts forecast that Impinj will post 1.05 earnings per share for the current year.
Insider Buying and Selling
In other Impinj news, insider Sylebra Capital Llc sold 2,550 shares of Impinj stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $195.41, for a total value of $498,295.50. Following the sale, the insider now directly owns 2,129,260 shares in the company, valued at approximately $416,078,696.60. The trade was a 0.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Hussein Mecklai sold 338 shares of the business's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $141.02, for a total transaction of $47,664.76. Following the completion of the sale, the chief operating officer now owns 61,586 shares in the company, valued at approximately $8,684,857.72. The trade was a 0.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,516 shares of company stock valued at $2,646,368. 51.00% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Impinj
A number of institutional investors and hedge funds have recently made changes to their positions in PI. The Manufacturers Life Insurance Company increased its position in shares of Impinj by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,753 shares of the company's stock valued at $1,999,000 after purchasing an additional 317 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in Impinj during the third quarter valued at $54,000. USA Financial Formulas lifted its holdings in shares of Impinj by 82.0% in the 3rd quarter. USA Financial Formulas now owns 657 shares of the company's stock worth $142,000 after acquiring an additional 296 shares during the last quarter. Creative Planning lifted its holdings in shares of Impinj by 23.4% in the 3rd quarter. Creative Planning now owns 12,046 shares of the company's stock worth $2,608,000 after acquiring an additional 2,287 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its stake in shares of Impinj by 70.0% during the 3rd 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 period.
Impinj Company Profile
(
Get Free Report)
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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