Impinj (NASDAQ:PI) Given New $140.00 Price Target at Piper Sandler

Impinj (NASDAQ:PI) had its price objective reduced by Piper Sandler from $235.00 to $140.00 in a research note released on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

PI has been the topic of several other reports. Needham & Company LLC cut their price target on shares of Impinj from $245.00 to $182.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Lake Street Capital upped their target price on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Finally, Susquehanna decreased their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Impinj has a consensus rating of “Moderate Buy” and a consensus price target of $180.10.

Impinj Price Performance

Shares of NASDAQ PI opened at $107.76 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 moving average price of $148.65 and a 200 day moving average price of $173.07. The stock has a market capitalization of $3.05 billion, a P/E ratio of 121.08 and a beta of 1.88.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. As a group, equities research analysts anticipate that Impinj will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,504 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.22, for a total value of $219,914.88. Following the sale, the chief executive officer now owns 331,572 shares in the company, valued at approximately $48,482,457.84. This represents a 0.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Sylebra Capital Llc sold 78,616 shares of Impinj stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $201.79, for a total transaction of $15,863,922.64. Following the transaction, the insider now directly owns 2,143,736 shares of the company’s stock, valued at approximately $432,584,487.44. This trade represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,132 shares of company stock worth $18,510,291. 51.00% of the stock is owned by company insiders.

Institutional Trading of Impinj

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Impinj during the fourth quarter worth approximately $27,699,000. Arizona State Retirement System raised its stake in shares of Impinj by 2.4% during the 4th quarter. Arizona State Retirement System now owns 6,945 shares of the company’s stock worth $1,009,000 after buying an additional 160 shares during the period. Aigen Investment Management LP purchased a new position in shares of Impinj during the 4th quarter valued at approximately $357,000. Proficio Capital Partners LLC acquired a new stake in Impinj in the 4th quarter valued at $1,625,000. Finally, Victory Capital Management Inc. increased its holdings in Impinj by 7.0% in the 4th quarter. Victory Capital Management Inc. now owns 20,825 shares of the company’s stock worth $3,025,000 after acquiring an additional 1,363 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.