Impinj (NASDAQ:PI – Get Free Report) was upgraded by equities researchers at Cantor Fitzgerald to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.
Several other brokerages have also commented on PI. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Needham & Company LLC decreased their price target on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. The Goldman Sachs Group lowered their price target on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Susquehanna cut their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd. Finally, Piper Sandler dropped their target price on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $180.10.
View Our Latest Analysis on Impinj
Impinj Stock Down 5.1 %
Impinj (NASDAQ:PI – Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. As a group, sell-side analysts anticipate that Impinj will post -0.47 EPS for the current year.
Insider Buying and Selling at Impinj
In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the transaction, the chief executive officer now directly owns 354,076 shares of the company’s stock, valued at approximately $34,975,627.28. This represents a 2.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Jeffrey Dossett sold 580 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $84,714.80. Following the sale, the executive now directly owns 66,180 shares in the company, valued at $9,666,250.80. This trade represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,323 shares of company stock valued at $2,454,588 in the last quarter. Corporate insiders own 51.00% of the company’s stock.
Hedge Funds Weigh In On Impinj
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PI. Hillsdale Investment Management Inc. increased its position in shares of Impinj by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company’s stock worth $3,586,000 after purchasing an additional 95 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Impinj by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock worth $1,612,000 after buying an additional 100 shares during the period. Mercer Global Advisors Inc. ADV increased its position in Impinj by 6.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company’s stock worth $238,000 after buying an additional 106 shares during the period. National Bank of Canada FI purchased a new stake in Impinj in the third quarter valued at approximately $30,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after acquiring an additional 141 shares during the period.
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.
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