Impinj (NASDAQ:PI) Hits New 1-Year Low - Time to Sell?

Shares of Impinj, Inc. (NASDAQ:PI - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $97.94 and last traded at $97.83, with a volume of 189436 shares changing hands. The stock had previously closed at $100.81.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald lowered their price target on shares of Impinj from $260.00 to $133.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Piper Sandler lowered their target price on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. The Goldman Sachs Group cut their price target on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, February 6th. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Finally, Susquehanna lowered their price objective on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research report on Wednesday, January 22nd. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $180.10.

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Impinj Trading Down 1.6 %

The stock has a market capitalization of $2.66 billion, a PE ratio of 68.49 and a beta of 1.88. The business has a fifty day moving average price of $131.02 and a 200-day moving average price of $168.64.

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

Insider Activity

In other Impinj news, insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $30,672.60. Following the transaction, the insider now directly owns 6,979 shares of the company's stock, valued at $1,019,352.74. The trade was a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jeffrey Dossett sold 580 shares of the business'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 $84,714.80. Following the completion of the sale, the executive now owns 66,180 shares of the company's stock, valued at $9,666,250.80. The trade was a 0.87 % 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. Corporate insiders own 51.00% of the company's stock.

Hedge Funds Weigh In On Impinj

A number of hedge funds have recently modified their holdings of PI. Raymond James & Associates grew its position in shares of Impinj by 21.7% in the 3rd quarter. Raymond James & Associates now owns 22,951 shares of the company's stock worth $4,969,000 after buying an additional 4,090 shares during the last quarter. Highland Capital Management LLC purchased a new stake in Impinj in the third quarter worth $222,000. Louisiana State Employees Retirement System bought a new stake in Impinj in the third quarter valued at $2,382,000. Wealth Enhancement Advisory Services LLC increased its position in Impinj by 157.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,278 shares of the company's stock valued at $2,009,000 after purchasing an additional 5,669 shares during the period. Finally, State of Alaska Department of Revenue purchased a new position in Impinj during the 3rd quarter valued at $2,813,000.

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.