Piper Sandler Lowers Impinj (NASDAQ:PI) Price Target to $100.00

Impinj (NASDAQ:PI - Free Report) had its target price decreased by Piper Sandler from $140.00 to $100.00 in a research report report published on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on the stock. Cantor Fitzgerald raised shares of Impinj to a "strong-buy" rating in a research report on Thursday, February 27th. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Needham & Company LLC dropped their price objective on Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. The Goldman Sachs Group decreased their target price on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. Finally, Susquehanna dropped their price target on shares of Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $160.33.

Impinj Stock Performance

NASDAQ PI traded up $1.76 on Tuesday, reaching $91.51. The company had a trading volume of 814,975 shares, compared to its average volume of 584,907. The company's fifty day moving average is $85.20 and its 200-day moving average is $137.11. Impinj has a 1-year low of $60.85 and a 1-year high of $239.88. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 67.29 and a beta of 1.74.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, research analysts forecast that Impinj will post -0.47 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Impinj

Large investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in shares of Impinj during the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new position in Impinj in the 4th quarter valued at about $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. IFP Advisors Inc raised its stake in shares of Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company's stock worth $53,000 after purchasing an additional 198 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Impinj by 68.7% in the first quarter. GAMMA Investing LLC now owns 722 shares of the company's stock valued at $65,000 after purchasing an additional 294 shares in the last quarter.

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.