The Goldman Sachs Group Has Lowered Expectations for Impinj (NASDAQ:PI) Stock Price

Impinj (NASDAQ:PI) had its price target reduced by research analysts at The Goldman Sachs Group from $200.00 to $132.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 18.37% from the stock’s previous close.

A number of other equities analysts have also weighed in on PI. Piper Sandler decreased their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday. Cantor Fitzgerald decreased their target price on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday. Needham & Company LLC decreased their target price on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Finally, Lake Street Capital boosted their price objective on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $180.10.

Impinj Stock Down 12.2 %

Shares of PI stock traded down $15.55 during trading hours on Thursday, hitting $111.51. 3,387,993 shares of the company’s stock traded hands, compared to its average volume of 790,752. The stock’s fifty day simple moving average is $149.90 and its two-hundred day simple moving average is $173.40. Impinj has a 12-month low of $97.77 and a 12-month high of $239.88. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 124.97 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 for the quarter, missing analysts’ consensus estimates 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, equities analysts forecast that Impinj will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other news, major shareholder Sylebra Capital Llc sold 250,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $203.00, for a total transaction of $50,750,000.00. Following the sale, the insider now directly owns 2,222,352 shares in the company, valued at approximately $451,137,456. This represents a 10.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cathal G. Phelan sold 11,549 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $200.81, for a total transaction of $2,319,154.69. Following the sale, the insider now owns 6,098 shares in the company, valued at $1,224,539.38. This represents a 65.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 355,681 shares of company stock valued at $71,579,446 in the last 90 days. Insiders own 51.00% of the company’s stock.

Institutional Trading of Impinj

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PI. National Bank of Canada FI bought a new position in Impinj in the 3rd quarter worth about $30,000. Farther Finance Advisors LLC grew its stake in 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 acquiring an additional 141 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Impinj in the 4th quarter worth about $33,000. Future Financial Wealth Managment LLC bought a new position in Impinj in the 3rd quarter worth about $54,000. Finally, Jones Financial Companies Lllp grew its stake in Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after acquiring an additional 175 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.