Impinj (NASDAQ:PI) Price Target Cut to $132.00 by Analysts at The Goldman Sachs Group

Impinj (NASDAQ:PI) had its target price cut by equities researchers at The Goldman Sachs Group from $200.00 to $132.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 25.26% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Evercore ISI restated an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Susquehanna dropped their target price on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Needham & Company LLC reduced their price target on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday. Cantor Fitzgerald decreased their price objective on Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, StockNews.com downgraded 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 assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $180.10.

Impinj Price Performance

Shares of PI opened at $105.38 on Thursday. Impinj has a 1 year low of $97.77 and a 1 year high of $239.88. The stock’s fifty day moving average price is $147.02 and its two-hundred day moving average price is $172.62. The firm has a market cap of $2.98 billion, a PE ratio of 118.40 and a beta of 1.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings data 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 8.21% and a negative return on equity of 1.64%. Sell-side analysts anticipate that Impinj will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In related news, insider Cathal G. Phelan sold 210 shares of the stock in a transaction 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 owns 6,979 shares of the company’s stock, valued at $1,019,352.74. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sylebra Capital Llc sold 2,550 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $195.41, for a total value of $498,295.50. Following the sale, the insider now owns 2,129,260 shares in the company, valued at $416,078,696.60. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,132 shares of company stock valued at $18,510,291 in the last 90 days. Corporate insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Institutional investors have recently modified their holdings of the company. National Bank of Canada FI bought a new position in shares of Impinj during the 3rd quarter valued at $30,000. Farther Finance Advisors LLC boosted its position in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after buying an additional 141 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Impinj during the fourth quarter valued at about $33,000. Future Financial Wealth Managment LLC purchased a new position in shares of Impinj in the third quarter worth about $54,000. Finally, Jones Financial Companies Lllp lifted its stake 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 acquiring an additional 175 shares during the last quarter.

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.