StockNews.com Downgrades Impinj (NASDAQ:PI) to Sell

Impinj (NASDAQ:PI) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group increased their price target on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday. Evercore ISI restated an “outperform” rating and set a $270.00 target price (up previously from $205.00) on shares of Impinj in a report on Thursday. Roth Mkm upped their price target on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. 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 note on Thursday. Finally, Susquehanna boosted their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Impinj has a consensus rating of “Moderate Buy” and an average target price of $224.60.

Impinj Trading Up 4.4 %

Shares of NASDAQ:PI opened at $200.70 on Friday. Impinj has a 1-year low of $58.56 and a 1-year high of $239.88. The stock has a market capitalization of $5.64 billion, a P/E ratio of 692.07 and a beta of 1.80. The business has a 50-day moving average price of $196.40 and a two-hundred day moving average price of $169.26.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. During the same quarter in the previous year, the company earned ($0.36) EPS. Impinj’s revenue was up 46.5% on a year-over-year basis. As a group, equities analysts predict that Impinj will post 0.31 EPS for the current year.

Insider Activity

In other news, CEO Chris Ph.D. Diorio sold 1,498 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $61,174,291.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Chris Ph.D. Diorio sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were 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 of the company’s stock, valued at approximately $61,174,291.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cathal G. Phelan sold 209 shares of Impinj stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total value of $43,712.35. Following the transaction, the insider now owns 17,647 shares of the company’s stock, valued at $3,690,870.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,779 shares of company stock worth $3,825,046 in the last quarter. Corporate insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

Hedge funds have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj in the first quarter valued at approximately $32,000. SouthState Corp acquired a new position in Impinj in the 2nd quarter valued at $94,000. nVerses Capital LLC increased its position in Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after buying an additional 300 shares during the period. Jamison Private Wealth Management Inc. lifted its holdings in shares of Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after buying an additional 549 shares in the last quarter. Finally, USA Financial Formulas boosted its position 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 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.