Impinj (NASDAQ:PI) Upgraded to “Sell” by StockNews.com

StockNews.com upgraded shares of Impinj (NASDAQ:PIFree Report) to a sell rating in a research note issued to investors on Friday.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group boosted their price objective on Impinj from $89.00 to $115.00 and gave the company a buy rating in a research report on Friday. Roth Mkm boosted their price objective on Impinj from $95.00 to $115.00 and gave the company a buy rating in a research report on Friday. Needham & Company LLC boosted their price objective on Impinj from $115.00 to $120.00 and gave the company a buy rating in a research report on Friday. Finally, Susquehanna boosted their price objective on Impinj from $115.00 to $130.00 and gave the company a positive rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $106.43.

Read Our Latest Research Report on PI

Impinj Price Performance

NASDAQ PI opened at $108.85 on Friday. The company has a market capitalization of $2.95 billion, a PE ratio of -67.19 and a beta of 2.04. The company has a debt-to-equity ratio of 8.09, a quick ratio of 4.92 and a current ratio of 8.09. The business’s fifty day moving average is $91.48 and its 200 day moving average is $73.44. Impinj has a fifty-two week low of $48.39 and a fifty-two week high of $144.90.

Insider Activity

In related news, CFO Cary Baker sold 302 shares of the firm’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $89.64, for a total value of $27,071.28. Following the completion of the transaction, the chief financial officer now owns 54,773 shares in the company, valued at approximately $4,909,851.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Cary Baker sold 302 shares of the firm’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $89.64, for a total value of $27,071.28. Following the completion of the transaction, the chief financial officer now owns 54,773 shares in the company, valued at approximately $4,909,851.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sylebra Capital Ltd acquired 35,510 shares of Impinj stock in a transaction on Thursday, November 16th. The shares were bought at an average price of $79.61 per share, with a total value of $2,826,951.10. Following the purchase, the insider now directly owns 4,118,587 shares in the company, valued at approximately $327,880,711.07. The disclosure for this purchase can be found here. In the last quarter, insiders sold 5,565 shares of company stock worth $473,718. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Impinj

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in Impinj in the 4th quarter worth about $40,000. Advisors Asset Management Inc. acquired a new stake in Impinj in the 1st quarter worth about $39,000. Headlands Technologies LLC acquired a new stake in Impinj in the 4th quarter worth about $58,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Impinj by 65.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 832 shares of the company’s stock worth $75,000 after buying an additional 329 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Impinj during the 3rd quarter worth approximately $55,000.

About Impinj

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Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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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Analyst Recommendations for Impinj (NASDAQ:PI)

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