Impinj (NASDAQ:PI) Stock Rating Lowered by StockNews.com

Impinj (NASDAQ:PI - Get Free Report) was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.

Several other equities research analysts also recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Impinj from $165.00 to $200.00 and gave the company a "neutral" rating in a report on Friday. Piper Sandler reissued an "overweight" rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a research note on Thursday. Needham & Company LLC boosted their target price on Impinj from $195.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday. Susquehanna boosted their target price on Impinj from $215.00 to $260.00 and gave the stock a "positive" rating in a research note on Monday. Finally, Cantor Fitzgerald boosted their target price on Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Impinj has an average rating of "Moderate Buy" and a consensus price target of $224.60.

Impinj Stock Performance

Shares of NASDAQ:PI traded up $8.49 during trading on Friday, reaching $200.70. The stock had a trading volume of 1,097,355 shares, compared to its average volume of 469,581. The business has a fifty day moving average price of $196.40 and a 200-day moving average price of $168.96. The stock has a market cap of $5.64 billion, a PE ratio of 692.07 and a beta of 1.80. Impinj has a 1-year low of $58.56 and a 1-year high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.08. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The firm had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. During the same quarter last year, the business posted ($0.36) earnings per share. The firm's revenue was up 46.5% compared to the same quarter last year. Sell-side analysts expect that Impinj will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Chris Ph.D. Diorio sold 1,498 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total value of $313,261.76. Following the completion of the sale, the chief executive officer now owns 292,532 shares in the company, valued at $61,174,291.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Cary Baker sold 366 shares of the firm's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $237.83, for a total value of $87,045.78. Following the sale, the chief financial officer now directly owns 71,096 shares of the company's stock, valued at approximately $16,908,761.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of Impinj stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total value of $313,261.76. Following the sale, the chief executive officer now directly owns 292,532 shares in the company, valued at approximately $61,174,291.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,779 shares of company stock valued at $3,825,046 in the last three months. 51.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PI. Future Financial Wealth Managment LLC bought a new position in Impinj during the first quarter worth about $32,000. SouthState Corp bought a new position in shares of Impinj in the second quarter valued at approximately $94,000. nVerses Capital LLC raised its stake in shares of Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company's stock valued at $110,000 after acquiring an additional 300 shares during the last quarter. Jamison Private Wealth Management Inc. raised its stake in shares of Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company's stock valued at $127,000 after acquiring an additional 549 shares during the last quarter. Finally, USA Financial Formulas raised its stake in shares of Impinj by 82.0% in the third 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.

About Impinj

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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