Impinj (NASDAQ:PI) Given New $100.00 Price Target at Piper Sandler

Impinj (NASDAQ:PI) had its target price trimmed by Piper Sandler from $140.00 to $100.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Susquehanna lowered their price target on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. Needham & Company LLC cut their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, The Goldman Sachs Group decreased their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Impinj currently has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Impinj Trading Up 6.6 %

NASDAQ PI opened at $74.29 on Tuesday. Impinj has a 12-month low of $60.85 and a 12-month high of $239.88. The firm’s fifty day simple moving average is $86.30 and its two-hundred day simple moving average is $139.98. The firm has a market capitalization of $2.12 billion, a P/E ratio of 54.63 and a beta of 1.74.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. As a group, sell-side analysts predict that Impinj will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Impinj

In other Impinj news, insider Cathal G. Phelan sold 565 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.77, for a total transaction of $55,805.05. Following the transaction, the insider now owns 7,925 shares in the company, valued at approximately $782,752.25. This represents a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the completion of the sale, the chief executive officer now owns 354,076 shares of the company’s stock, valued at $34,975,627.28. This trade represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,857 shares of company stock valued at $1,665,290 in the last 90 days. 51.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Impinj

A number of hedge funds have recently made changes to their positions in PI. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Impinj by 7.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,169 shares of the company’s stock valued at $741,000 after purchasing an additional 535 shares during the last quarter. Deltec Asset Management LLC purchased a new position in Impinj during the 1st quarter valued at about $336,000. Jamison Private Wealth Management Inc. grew its holdings in shares of Impinj by 56.4% in the first quarter. Jamison Private Wealth Management Inc. now owns 4,127 shares of the company’s stock valued at $374,000 after purchasing an additional 1,489 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Impinj by 31.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,211 shares of the company’s stock worth $1,380,000 after acquiring an additional 3,606 shares during the period. Finally, Azzad Asset Management Inc. ADV purchased a new position in shares of Impinj in the 1st quarter valued at about $660,000.

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.