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

StockNews.com cut shares of Impinj (NASDAQ:PI) from a hold rating to a sell rating in a research report released on Friday.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC reduced their price objective on shares of Impinj from $245.00 to $182.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Cantor Fitzgerald lifted their price target on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Evercore ISI restated an “outperform” rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Piper Sandler reaffirmed an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. Finally, Susquehanna lowered their target price on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and an average target price of $214.30.

Impinj Stock Performance

Impinj stock opened at $136.21 on Friday. The company has a market cap of $3.85 billion, a P/E ratio of 153.04 and a beta of 1.88. Impinj has a one year low of $95.96 and a one year high of $239.88. The business has a fifty day moving average of $158.20 and a two-hundred day moving average of $175.60.

Insider Activity

In other news, CFO Cary Baker sold 499 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $72,883.94. Following the sale, the chief financial officer now owns 71,107 shares in the company, valued at $10,385,888.42. This trade represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $30,672.60. Following the completion of the sale, the insider now directly owns 6,979 shares of the company’s stock, valued at approximately $1,019,352.74. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 630,038 shares of company stock worth $125,943,693 over the last three months. 51.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Impinj

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Bank & Trust grew its stake in shares of Impinj by 3.2% during the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock valued at $383,000 after buying an additional 55 shares during the period. National Bank of Canada FI purchased a new stake in Impinj during the third quarter valued at about $30,000. Farther Finance Advisors LLC raised its holdings in shares of Impinj by 1,084.6% in the 3rd 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. KBC Group NV raised its holdings in shares of Impinj by 29.7% in the 3rd quarter. KBC Group NV now owns 681 shares of the company’s stock worth $147,000 after purchasing an additional 156 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in shares of Impinj by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after purchasing an additional 190 shares in 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.