Cantor Fitzgerald Issues Pessimistic Forecast for Impinj (NASDAQ:PI) Stock Price

Impinj (NASDAQ:PI) had its price target reduced by Cantor Fitzgerald from $260.00 to $133.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 4.67% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Piper Sandler reduced 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. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 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 note on Thursday, October 24th. The Goldman Sachs Group boosted their price target on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Lake Street Capital increased their target price on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

Impinj Trading Up 0.4 %

Shares of NASDAQ:PI opened at $127.06 on Thursday. The stock has a market capitalization of $3.59 billion, a PE ratio of 142.76 and a beta of 1.88. The firm has a fifty day moving average price of $149.90 and a 200 day moving average price of $173.40. Impinj has a 1 year low of $97.77 and a 1 year high of $239.88.

Impinj (NASDAQ:PI) last issued 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 negative return on equity of 1.64% and a net margin of 8.21%. On average, sell-side analysts forecast that Impinj will post 0.44 earnings per share for the current fiscal year.

Insider Transactions at Impinj

In related news, CFO Cary Baker sold 499 shares of Impinj stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $72,883.94. Following the transaction, the chief financial officer now owns 71,107 shares of the company’s stock, valued at $10,385,888.42. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cathal G. Phelan sold 11,549 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 6,098 shares of the company’s stock, valued at $1,224,539.38. The trade was a 65.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 355,681 shares of company stock worth $71,579,446 in the last quarter. 51.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Impinj

Hedge funds have recently modified their holdings of the business. National Bank of Canada FI bought a new position in Impinj in the third quarter valued at approximately $30,000. Farther Finance Advisors LLC raised its holdings in shares of Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after acquiring an additional 141 shares during the period. SBI Securities Co. Ltd. bought a new stake in Impinj in the 4th quarter valued at $33,000. Jones Financial Companies Lllp increased its holdings in Impinj by 205.9% during the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after purchasing an additional 175 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Impinj by 116.5% in the 4th quarter. IFP Advisors Inc now owns 368 shares of the company’s stock valued at $53,000 after purchasing an additional 198 shares during the period.

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.