Impinj (NASDAQ:PI) Price Target Lowered to $130.00 at Needham & Company LLC

Impinj (NASDAQ:PI) had its target price trimmed by Needham & Company LLC from $182.00 to $130.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on PI. Piper Sandler lowered their price target on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday. The Goldman Sachs Group upped their target price on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Susquehanna decreased their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Finally, Cantor Fitzgerald lifted their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $180.10.

Impinj Stock Performance

Impinj stock opened at $107.76 on Thursday. The company has a market cap of $3.05 billion, a P/E ratio of 121.08 and a beta of 1.88. Impinj has a one year low of $97.77 and a one year high of $239.88. The business has a fifty day moving average of $148.65 and a two-hundred day moving average of $173.07.

Impinj (NASDAQ:PI) last announced its quarterly earnings data 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 net margin of 8.21% and a negative return on equity of 1.64%. Sell-side analysts predict that Impinj will post 0.44 EPS for the current year.

Insider Activity

In other Impinj news, major shareholder Sylebra Capital Llc sold 78,616 shares of Impinj stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $201.79, for a total value of $15,863,922.64. Following the completion of the sale, the insider now owns 2,143,736 shares in the company, valued at $432,584,487.44. The trade was a 3.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Jeffrey Dossett sold 7,500 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the transaction, the executive now directly owns 65,294 shares of the company’s stock, valued at approximately $11,829,313.98. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,132 shares of company stock valued at $18,510,291 over the last 90 days. Insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

A number of hedge funds have recently made changes to their positions in PI. Raymond James Financial Inc. acquired a new stake in shares of Impinj during the 4th quarter worth $27,699,000. Arizona State Retirement System grew its position in Impinj by 2.4% during the fourth quarter. Arizona State Retirement System now owns 6,945 shares of the company’s stock valued at $1,009,000 after acquiring an additional 160 shares during the period. Aigen Investment Management LP acquired a new stake in Impinj during the fourth quarter worth about $357,000. Proficio Capital Partners LLC purchased a new position in shares of Impinj in the 4th quarter worth about $1,625,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Impinj by 7.0% in the 4th quarter. Victory Capital Management Inc. now owns 20,825 shares of the company’s stock valued at $3,025,000 after purchasing an additional 1,363 shares in 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.