Impinj (NASDAQ:PI) Price Target Cut to $140.00 by Analysts at Piper Sandler

Impinj (NASDAQ:PI) had its price objective reduced by Piper Sandler from $235.00 to $140.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 32.85% from the company’s current price.

Several other analysts have also issued reports on PI. The Goldman Sachs Group increased their price objective on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Susquehanna lowered their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Evercore ISI reissued an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Lake Street Capital increased their target price on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $180.10.

Impinj Trading Down 2.2 %

Shares of NASDAQ: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 business has a fifty day simple moving average of $147.02 and a 200 day simple moving average of $172.62. The firm has a market cap of $2.98 billion, a price-to-earnings 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 the consensus estimate of $0.48 by ($0.49). Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. On average, sell-side analysts forecast that Impinj will post 0.44 EPS for the current year.

Insider Activity

In related news, insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the sale, the insider now directly owns 6,979 shares of the company’s stock, valued at $1,019,352.74. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Cary Baker sold 499 shares of Impinj stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $72,883.94. Following the sale, the chief financial officer now directly owns 71,107 shares in the company, valued at approximately $10,385,888.42. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,132 shares of company stock valued at $18,510,291. 51.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Impinj

A number of institutional investors have recently added to or reduced their stakes in PI. National Bank of Canada FI bought a new position in Impinj during the third quarter worth about $30,000. Farther Finance Advisors LLC lifted its stake in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares during the period. SBI Securities Co. Ltd. bought a new position in Impinj during the fourth quarter worth about $33,000. Jones Financial Companies Lllp lifted its stake in Impinj by 205.9% during the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after purchasing an additional 175 shares during the period. Finally, IFP Advisors Inc lifted its stake in Impinj by 116.5% during the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after purchasing an additional 198 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.