Needham & Company LLC Cuts Impinj (NASDAQ:PI) Price Target to $130.00

Impinj (NASDAQ:PI - Get Free Report) had its price objective dropped by research analysts at Needham & Company LLC from $182.00 to $130.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's target price would indicate a potential upside of 24.08% from the stock's previous close.

PI has been the subject of several other reports. Cantor Fitzgerald lifted their price objective on shares of Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Susquehanna decreased their price target on Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a report on Wednesday, January 22nd. The Goldman Sachs Group upped their price objective on Impinj from $165.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Piper Sandler decreased their target price on Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Lake Street Capital upped their price target on Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $180.10.

Impinj Trading Down 0.6 %

PI traded down $0.61 on Thursday, hitting $104.77. 712,162 shares of the company were exchanged, compared to its average volume of 850,744. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 77.04 and a beta of 1.88. The firm has a 50-day moving average price of $145.29 and a two-hundred day moving average price of $172.30. Impinj has a twelve month low of $97.77 and a twelve month high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.69% and a net margin of 11.15%. Equities analysts expect that Impinj will post 1.05 EPS for the current year.

Insider Activity

In other news, insider Cathal G. Phelan sold 210 shares of the company's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the completion of the sale, the insider now owns 6,979 shares in the company, valued at $1,019,352.74. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Jeffrey Dossett sold 7,500 shares of the stock in a transaction on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,516 shares of company stock valued at $2,646,368. 51.00% of the stock is currently owned by company insiders.

Institutional Trading of Impinj

Several hedge funds have recently made changes to their positions in PI. National Bank of Canada FI acquired a new position in Impinj during the third quarter worth $30,000. Farther Finance Advisors LLC boosted its position in shares of Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock worth $33,000 after purchasing an additional 141 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Impinj during the 4th quarter worth $33,000. Jones Financial Companies Lllp increased its holdings in shares of Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock valued at $38,000 after purchasing an additional 175 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company's stock valued at $53,000 after purchasing an additional 198 shares during the period.

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.