Impinj (NASDAQ:PI) Given New $100.00 Price Target at Piper Sandler

Impinj (NASDAQ:PI - Free Report) had its price target trimmed by Piper Sandler from $140.00 to $100.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also weighed in on PI. Cantor Fitzgerald upgraded Impinj to a "strong-buy" rating in a research report on Thursday, February 27th. Needham & Company LLC decreased their price target on Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. The Goldman Sachs Group lowered their target price on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, February 6th. Susquehanna cut their target price on shares of Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research note on Wednesday, January 22nd. Finally, StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Impinj currently has an average rating of "Moderate Buy" and an average price target of $160.33.

Impinj Stock Performance

Shares of PI traded up $0.90 during trading hours on Tuesday, hitting $90.65. 144,724 shares of the stock were exchanged, compared to its average volume of 596,688. Impinj has a 12-month low of $60.85 and a 12-month high of $239.88. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 66.65 and a beta of 1.74. The stock's 50-day moving average price is $85.49 and its two-hundred day moving average price is $138.66.

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 analysts' consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. On average, research analysts expect that Impinj will post -0.47 earnings per share for the current year.

Insider Buying and Selling at Impinj

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the sale, the chief executive officer now directly owns 354,076 shares in the company, valued at approximately $34,975,627.28. This trade represents a 2.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Cary Baker sold 1,553 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the sale, the chief financial officer now owns 76,451 shares in the company, valued at approximately $7,550,300.76. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,857 shares of company stock valued at $1,665,290 in the last ninety days. Insiders own 51.00% of the company's stock.

Institutional Trading of Impinj

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board purchased a new stake in Impinj in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Impinj in the fourth quarter valued at $33,000. Jones Financial Companies Lllp grew its position in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock valued at $38,000 after purchasing an additional 175 shares during the period. IFP Advisors Inc increased its stake in 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 last quarter. Finally, GAMMA Investing LLC lifted its position in Impinj by 68.7% during the first quarter. GAMMA Investing LLC now owns 722 shares of the company's stock worth $65,000 after buying an additional 294 shares during the period.

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.