Piper Sandler Issues Pessimistic Forecast for Impinj (NASDAQ:PI) Stock Price

Impinj (NASDAQ:PI) had its price objective lowered by analysts at Piper Sandler from $235.00 to $140.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 10.18% from the stock’s previous close.

A number of other research firms have also recently weighed in on PI. The Goldman Sachs Group raised their price target on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Needham & Company LLC dropped their target price on shares of Impinj from $245.00 to $182.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, Lake Street Capital raised their price target on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $199.60.

Impinj Stock Performance

Shares of NASDAQ:PI opened at $127.06 on Thursday. The company’s fifty day moving average is $149.90 and its 200-day moving average is $173.40. Impinj has a 52 week low of $97.77 and a 52 week high of $239.88. The company has a market capitalization of $3.59 billion, a PE ratio of 142.76 and a beta of 1.88.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. On average, analysts forecast that Impinj will post 0.44 EPS for the current year.

Insider Transactions at Impinj

In other Impinj news, CFO Cary Baker sold 499 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $72,883.94. Following the sale, the chief financial officer now owns 71,107 shares of the company’s stock, valued at approximately $10,385,888.42. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Cathal G. Phelan sold 11,549 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $200.81, for a total value of $2,319,154.69. Following the sale, the insider now directly owns 6,098 shares of the company’s stock, valued at $1,224,539.38. This represents a 65.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 355,681 shares of company stock worth $71,579,446. Corporate insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI purchased a new position in shares of Impinj during the third quarter valued at approximately $30,000. Farther Finance Advisors LLC grew its stake in shares of Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after acquiring an additional 141 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Impinj in the fourth quarter valued at about $33,000. Jones Financial Companies Lllp lifted its position in shares of Impinj by 205.9% during the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock valued at $38,000 after purchasing an additional 175 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in Impinj by 116.5% during the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after purchasing an additional 198 shares during the last quarter.

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.