Impinj (NASDAQ:PI) Stock Price Down 6.9%

Impinj, Inc. (NASDAQ:PI) traded down 6.9% during mid-day trading on Friday . The stock traded as low as $144.44 and last traded at $144.82. 231,385 shares were traded during trading, a decline of 43% from the average session volume of 403,165 shares. The stock had previously closed at $155.55.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Susquehanna boosted their target price on Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research report on Tuesday, April 23rd. Canaccord Genuity Group boosted their target price on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Piper Sandler reiterated an “overweight” rating and set a $150.00 target price (up previously from $130.00) on shares of Impinj in a research report on Thursday. Roth Mkm boosted their target price on Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Evercore ISI started coverage on Impinj in a research report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.89.

Impinj Price Performance

The company has a 50 day moving average price of $119.23 and a 200 day moving average price of $95.29. The firm has a market cap of $4.18 billion, a PE 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.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate 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%. On average, sell-side analysts expect that Impinj, Inc. will post -0.62 EPS for the current year.

Insider Activity at Impinj

In related news, CFO Cary Baker sold 374 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $118.70, for a total value of $44,393.80. Following the sale, the chief financial officer now owns 67,948 shares of the company’s stock, valued at approximately $8,065,427.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, COO Hussein Mecklai sold 435 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $118.75, for a total value of $51,656.25. Following the sale, the chief operating officer now owns 55,414 shares of the company’s stock, valued at approximately $6,580,412.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Cary Baker sold 374 shares of the company’s stock in a transaction that occurred 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 directly owns 67,948 shares in the company, valued at approximately $8,065,427.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,185 shares of company stock valued at $12,767,674. 17.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Impinj by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company’s stock worth $9,577,000 after purchasing an additional 8,038 shares during the period. Aigen Investment Management LP purchased a new position in shares of Impinj during the 3rd quarter worth $320,000. FMR LLC lifted its stake in shares of Impinj by 0.8% during the 3rd quarter. FMR LLC now owns 4,028,894 shares of the company’s stock worth $221,710,000 after purchasing an additional 31,289 shares during the period. Telemus Capital LLC purchased a new position in shares of Impinj during the 4th quarter worth $298,000. Finally, AWM Investment Company Inc. lifted its stake in shares of Impinj by 9.5% during the 3rd quarter. AWM Investment Company Inc. now owns 365,428 shares of the company’s stock worth $20,110,000 after purchasing an additional 31,556 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.