Impinj (NASDAQ:PI) Lifted to “Hold” at StockNews.com

Impinj (NASDAQ:PI) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

A number of other research firms have also issued reports on PI. Piper Sandler reissued an “overweight” rating and issued a $150.00 target price (up previously from $130.00) on shares of Impinj in a report on Thursday. Canaccord Genuity Group upped their price objective on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Evercore ISI initiated coverage on Impinj in a report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price objective on the stock. The Goldman Sachs Group upped their price objective on Impinj from $130.00 to $156.00 and gave the stock a “buy” rating in a report on Friday. Finally, Needham & Company LLC upped their price objective on Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Impinj has an average rating of “Moderate Buy” and a consensus price target of $132.89.

Impinj Trading Down 3.0 %

NASDAQ:PI opened at $150.91 on Friday. The firm has a market cap of $4.18 billion, a P/E ratio of -431.17 and a beta of 2.05. The company has a current ratio of 9.42, a quick ratio of 5.59 and a debt-to-equity ratio of 3.29. The stock’s 50 day simple moving average is $119.23 and its 200-day simple moving average is $95.29. Impinj has a 12-month low of $48.39 and a 12-month high of $156.41.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. The business had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. Equities analysts anticipate that Impinj will post -0.62 EPS for the current year.

Insiders Place Their Bets

In other Impinj news, CFO Cary Baker sold 374 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $118.70, for a total transaction of $44,393.80. Following the sale, the chief financial officer now directly owns 67,948 shares in the company, valued at $8,065,427.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Chris Ph.D. Diorio sold 2,953 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $127.19, for a total value of $375,592.07. Following the sale, the chief executive officer now directly owns 284,349 shares in the company, valued at $36,166,349.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Cary Baker sold 374 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $118.70, for a total value of $44,393.80. Following the completion of the sale, the chief financial officer now owns 67,948 shares in the company, valued at $8,065,427.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,185 shares of company stock worth $12,767,674. 17.10% of the stock is owned by corporate insiders.

Institutional Trading of Impinj

Institutional investors and hedge funds have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC purchased a new position in Impinj during the first quarter worth about $32,000. GAMMA Investing LLC purchased a new position in Impinj during the fourth quarter worth about $40,000. Headlands Technologies LLC purchased a new position in Impinj during the fourth quarter worth about $58,000. Asset Management One Co. Ltd. lifted its position in Impinj by 74.6% during the third quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock worth $67,000 after buying an additional 524 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in Impinj by 75.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,468 shares of the company’s stock worth $81,000 after buying an additional 629 shares during the period.

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.