Impinj (NASDAQ:PI) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Impinj (NASDAQ:PI) from a hold rating to a sell rating in a research report report published on Tuesday morning.

Other analysts have also recently issued research reports about the stock. Roth Mkm upped their price objective on shares of Impinj from $125.00 to $145.00 and gave the company a buy rating in a research report on Thursday, April 25th. The Goldman Sachs Group cut shares of Impinj from a buy rating to a neutral rating and set a $156.00 price objective for the company. in a research report on Monday, May 20th. Needham & Company LLC upped their price objective on shares of Impinj from $160.00 to $195.00 and gave the company a buy rating in a research report on Thursday, May 16th. Jefferies Financial Group began coverage on shares of Impinj in a research report on Monday, May 13th. They issued a buy rating and a $200.00 price objective for the company. Finally, Evercore ISI began coverage on shares of Impinj in a research report on Tuesday, April 16th. They issued an outperform rating and a $160.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $143.10.

Impinj Trading Down 1.3 %

Impinj stock opened at $166.30 on Tuesday. Impinj has a fifty-two week low of $48.39 and a fifty-two week high of $175.41. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 6.87. The firm has a fifty day moving average price of $141.11 and a two-hundred day moving average price of $109.94.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.14. The firm had revenue of $76.83 million for the quarter, compared to analysts’ expectations of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. On average, research analysts anticipate that Impinj will post 0.02 EPS for the current year.

Insider Buying and Selling

In related news, Director Umesh Padval sold 3,475 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $151.39, for a total transaction of $526,080.25. Following the sale, the director now owns 3,529 shares in the company, valued at approximately $534,255.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Impinj news, Director Umesh Padval sold 3,475 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $151.39, for a total value of $526,080.25. Following the sale, the director now owns 3,529 shares in the company, valued at $534,255.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Cary Baker sold 1,455 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $103.68, for a total transaction of $150,854.40. Following the completion of the sale, the chief financial officer now owns 65,273 shares in the company, valued at approximately $6,767,504.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,509 shares of company stock worth $12,503,735. Corporate insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Hedge funds have recently modified their holdings of the business. FMR LLC increased its stake in Impinj by 0.8% in the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after purchasing an additional 31,289 shares in the last quarter. Sylebra Capital LLC bought a new stake in Impinj in the third quarter valued at $217,290,000. Vanguard Group Inc. increased its position in shares of Impinj by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after acquiring an additional 35,893 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Impinj by 40.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock worth $56,260,000 after acquiring an additional 292,470 shares in the last quarter. Finally, Fred Alger Management LLC increased its position in shares of Impinj by 249.6% during the third quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock worth $43,802,000 after acquiring an additional 568,301 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.