Impinj (NASDAQ:PI) Reaches New 12-Month Low – Should You Sell?

Impinj, Inc. (NASDAQ:PI) hit a new 52-week low on Friday . The company traded as low as $97.94 and last traded at $97.83, with a volume of 189436 shares traded. The stock had previously closed at $100.81.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PI shares. The Goldman Sachs Group reduced their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC reduced their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald reduced their price target on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, Piper Sandler cut their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Impinj currently has an average rating of “Moderate Buy” and a consensus target price of $180.10.

Impinj Stock Performance

The firm’s 50-day simple moving average is $132.13 and its 200 day simple moving average is $168.81. The stock has a market capitalization of $2.76 billion, a P/E ratio of 71.14 and a beta of 1.88.

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

Insider Transactions at Impinj

In related news, CFO Cary Baker sold 290 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $140.96, for a total value of $40,878.40. Following the transaction, the chief financial officer now owns 71,754 shares in the company, valued at approximately $10,114,443.84. This represents a 0.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cathal G. Phelan sold 210 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $30,672.60. Following the completion of the transaction, the insider now owns 6,979 shares in the company, valued at approximately $1,019,352.74. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,466 shares of company stock worth $789,298 in the last ninety days. Insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PI. National Bank of Canada FI acquired a new position in shares of Impinj during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC grew its position in shares of Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Impinj during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Impinj during the 4th quarter worth approximately $33,000. Finally, Jones Financial Companies Lllp grew its position in shares of 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.

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.