Impinj (NASDAQ:PI) Price Target Cut to $140.00 by Analysts at Piper Sandler

Impinj (NASDAQ:PI) had its target price lowered by stock analysts at Piper Sandler from $235.00 to $140.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 10.18% from the stock’s current price.

Several other research firms have also commented on PI. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Lake Street Capital increased their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Evercore ISI restated an “outperform” rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Cantor Fitzgerald lifted their price target on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Susquehanna decreased their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Impinj has an average rating of “Moderate Buy” and an average price target of $199.60.

Impinj Price Performance

Shares of NASDAQ:PI opened at $127.06 on Thursday. Impinj has a 12 month low of $97.77 and a 12 month high of $239.88. The firm has a market capitalization of $3.59 billion, a PE ratio of 142.76 and a beta of 1.88. The business has a 50-day moving average of $149.90 and a two-hundred day moving average of $173.40.

Impinj (NASDAQ:PI) last released its quarterly earnings results 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%. As a group, research analysts anticipate that Impinj will post 0.44 earnings per share for the current year.

Insiders Place Their Bets

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,504 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total transaction of $219,914.88. Following the completion of the transaction, the chief executive officer now owns 331,572 shares of the company’s stock, valued at $48,482,457.84. The trade was a 0.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Cary Baker sold 290 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $140.96, for a total value of $40,878.40. Following the completion of the sale, the chief financial officer now directly owns 71,754 shares in the company, valued at approximately $10,114,443.84. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 355,681 shares of company stock valued at $71,579,446 in the last three months. Insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several large investors have recently bought and sold shares of PI. SBI Securities Co. Ltd. bought a new stake in shares of Impinj in the 4th quarter worth approximately $33,000. Jones Financial Companies Lllp boosted its stake in Impinj by 205.9% during the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after buying an additional 175 shares in the last quarter. Bailard Inc. bought a new stake in Impinj in the 4th quarter valued at $316,000. Versor Investments LP acquired a new position in shares of Impinj in the 4th quarter valued at $816,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Impinj during the 4th quarter worth about $1,625,000.

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.