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

Impinj (NASDAQ:PI) had its price target decreased by Susquehanna from $260.00 to $220.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price would indicate a potential upside of 57.74% from the company’s current price.

Several other equities research analysts have also recently weighed in on PI. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Lake Street Capital upped their target price on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Needham & Company LLC dropped their price objective on shares of Impinj from $245.00 to $182.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Cantor Fitzgerald upped their price objective on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their target price on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $214.30.

Impinj Trading Up 0.5 %

Shares of PI opened at $139.47 on Wednesday. Impinj has a 1-year low of $95.96 and a 1-year high of $239.88. The firm’s 50-day moving average price is $159.88 and its 200-day moving average price is $175.86. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 156.71 and a beta of 1.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. During the same period in the previous year, the firm posted ($0.36) EPS. The business’s revenue was up 46.5% on a year-over-year basis. On average, research analysts forecast that Impinj will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling

In other Impinj news, major shareholder Sylebra Capital Llc sold 32,031 shares of Impinj stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $195.35, for a total value of $6,257,255.85. Following the completion of the sale, the insider now owns 3,021,548 shares of the company’s stock, valued at approximately $590,259,401.80. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 34,474 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $201.51, for a total transaction of $6,946,855.74. Following the sale, the chief executive officer now owns 294,438 shares of the company’s stock, valued at approximately $59,332,201.38. This represents a 10.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 655,038 shares of company stock worth $131,064,693 in the last three months. Insiders own 51.00% of the company’s stock.

Institutional Trading of Impinj

A number of hedge funds have recently bought and sold shares of PI. FMR LLC grew its stake in shares of Impinj by 1.5% during the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after purchasing an additional 60,461 shares during the period. State Street Corp grew its position in Impinj by 25.7% during the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after buying an additional 220,776 shares during the period. Geode Capital Management LLC increased its holdings in Impinj by 1.4% during the third quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock valued at $117,576,000 after buying an additional 7,676 shares during the last quarter. Jennison Associates LLC raised its position in Impinj by 15.0% in the third quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock worth $51,779,000 after acquiring an additional 31,269 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Impinj by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock worth $41,840,000 after acquiring an additional 6,232 shares during the period.

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.