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

Impinj (NASDAQ:PI) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other research analysts have also recently commented on the stock. Susquehanna cut their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a report on Wednesday. Cantor Fitzgerald raised their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their price target on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Evercore ISI reissued an “outperform” rating and issued a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Finally, Needham & Company LLC decreased their target price on Impinj from $245.00 to $182.00 and set a “buy” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $214.30.

Impinj Stock Performance

NASDAQ PI opened at $139.47 on Friday. The business’s 50 day moving average price is $159.88 and its 200-day moving average price is $175.86. Impinj has a fifty-two week low of $95.96 and a fifty-two week high of $239.88. The company has a market cap of $3.95 billion, a P/E ratio of 156.71 and a beta of 1.88.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. During the same period in the previous year, the company earned ($0.36) EPS. The firm’s revenue for the quarter was up 46.5% compared to the same quarter last year. As a group, equities analysts predict that Impinj will post 0.44 EPS for the current year.

Insider Transactions at Impinj

In other news, CFO Cary Baker sold 15,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $204.90, for a total value of $3,073,500.00. Following the completion of the transaction, the chief financial officer now owns 71,096 shares of the company’s stock, valued at $14,567,570.40. The trade was a 17.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Chris Ph.D. Diorio sold 34,474 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $201.51, for a total value of $6,946,855.74. Following the completion of the sale, the chief executive officer now owns 294,438 shares in the company, valued at $59,332,201.38. The trade was a 10.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 655,038 shares of company stock worth $131,064,693 over the last three months. 51.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI purchased a new position in shares of Impinj during the 3rd quarter valued at approximately $30,000. Farther Finance Advisors LLC lifted its holdings in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Impinj during the third quarter valued at $54,000. KBC Group NV grew its position in shares of Impinj by 33.5% in the fourth quarter. KBC Group NV now owns 909 shares of the company’s stock valued at $132,000 after purchasing an additional 228 shares during the period. Finally, Asset Management One Co. Ltd. purchased a new stake in shares of Impinj during the third quarter worth about $138,000.

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.