Susquehanna Has Lowered Expectations for Impinj (NASDAQ:PI) Stock Price

Impinj (NASDAQ:PI) had its price target reduced by stock analysts at Susquehanna from $260.00 to $220.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s target price suggests a potential upside of 60.14% from the stock’s previous close.

PI has been the subject of a number of other research reports. Cantor Fitzgerald increased their price objective on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised 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. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research report on Thursday, January 16th. Lake Street Capital upped their price objective on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Evercore ISI restated an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $214.30.

Impinj Trading Down 1.3 %

NASDAQ:PI traded down $1.75 during mid-day trading on Wednesday, reaching $137.38. 251,099 shares of the stock were exchanged, compared to its average volume of 654,887. Impinj has a 1-year low of $95.96 and a 1-year high of $239.88. The firm has a market capitalization of $3.89 billion, a PE ratio of 154.53 and a beta of 1.88. The business has a fifty day moving average price of $161.93 and a 200 day moving average price of $176.28.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business’s quarterly revenue was up 46.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.36) earnings per share. On average, sell-side analysts forecast that Impinj will post 0.44 earnings per share for the current year.

Insider Activity

In other news, CEO Chris Ph.D. Diorio sold 841 shares of Impinj stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $141.02, for a total transaction of $118,597.82. Following the sale, the chief executive officer now owns 333,856 shares of the company’s stock, valued at approximately $47,080,373.12. This trade represents a 0.25 % 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, COO Hussein Mecklai sold 338 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $141.02, for a total transaction of $47,664.76. Following the completion of the sale, the chief operating officer now directly owns 61,586 shares in the company, valued at $8,684,857.72. This trade represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 655,038 shares of company stock valued at $131,064,693 over the last 90 days. 51.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PI. National Bank of Canada FI bought a new stake in Impinj during the third quarter worth about $30,000. Farther Finance Advisors LLC grew its position in 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 acquiring an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Impinj during the 3rd quarter valued at $54,000. KBC Group NV raised its position in Impinj by 33.5% in the 4th quarter. KBC Group NV now owns 909 shares of the company’s stock valued at $132,000 after purchasing an additional 228 shares during the last quarter. Finally, Asset Management One Co. Ltd. acquired a new position in Impinj in the third quarter worth $138,000.

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.