StockNews.com cut shares of Impinj (NASDAQ:PI – Free Report) from a hold rating to a sell rating in a research note released on Friday.
PI has been the subject of a number of other reports. The Goldman Sachs Group lifted their price objective on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday. Roth Mkm raised their target price on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Needham & Company LLC upped their price target on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Piper Sandler reiterated an “overweight” rating and issued a $235.00 price target (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Susquehanna boosted their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Impinj currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.60.
Read Our Latest Analysis on Impinj
Impinj Trading Up 2.5 %
Impinj (NASDAQ:PI – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. During the same period in the prior year, the business posted ($0.36) earnings per share. Impinj’s revenue was up 46.5% compared to the same quarter last year. As a group, equities analysts predict that Impinj will post 0.35 EPS for the current year.
Insider Activity
In related news, CFO Cary Baker sold 366 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $237.83, for a total value of $87,045.78. Following the completion of the transaction, the chief financial officer now directly owns 71,096 shares of the company’s stock, valued at approximately $16,908,761.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Impinj news, CFO Cary Baker sold 366 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.83, for a total value of $87,045.78. Following the sale, the chief financial officer now owns 71,096 shares in the company, valued at approximately $16,908,761.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cathal G. Phelan sold 209 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total value of $43,712.35. Following the transaction, the insider now directly owns 17,647 shares of the company’s stock, valued at approximately $3,690,870.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,779 shares of company stock worth $3,825,046 over the last quarter. 51.00% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Impinj
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. acquired a new stake in shares of Impinj in the 2nd quarter valued at approximately $103,252,000. Jennison Associates LLC acquired a new stake in Impinj in the first quarter valued at $25,747,000. Renaissance Technologies LLC acquired a new position in shares of Impinj during the 2nd quarter worth about $30,116,000. TimesSquare Capital Management LLC bought a new stake in shares of Impinj in the 1st quarter valued at about $19,195,000. Finally, Lord Abbett & CO. LLC acquired a new stake in Impinj in the 1st quarter valued at about $9,659,000.
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.
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