Impinj (NASDAQ:PI) Hits New 12-Month Low – Should You Sell?

Impinj, Inc. (NASDAQ:PI) shares reached a new 52-week low on Wednesday . The stock traded as low as $84.17 and last traded at $90.20, with a volume of 845883 shares changing hands. The stock had previously closed at $87.73.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PI. The Goldman Sachs Group decreased their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Piper Sandler reduced their target price on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Needham & Company LLC reduced their target price on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Susquehanna reduced their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Finally, Cantor Fitzgerald raised shares of Impinj to a “strong-buy” rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Impinj presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.10.

Impinj Price Performance

The stock’s 50-day moving average is $122.39 and its two-hundred day moving average is $164.97. The stock has a market cap of $2.63 billion, a P/E ratio of 67.85 and a beta of 1.88.

Impinj (NASDAQ:PI) last released 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 11.15% and a return on equity of 7.11%. On average, analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Insider Activity at Impinj

In other news, CRO Jeffrey Dossett sold 580 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $84,714.80. Following the transaction, the executive now owns 66,180 shares of the company’s stock, valued at approximately $9,666,250.80. This represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Cary Baker sold 499 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $72,883.94. Following the transaction, the chief financial officer now directly owns 71,107 shares in the company, valued at $10,385,888.42. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,323 shares of company stock worth $2,454,588. Company insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

A number of institutional investors have recently added to or reduced their stakes in PI. Canada Pension Plan Investment Board bought a new stake in Impinj during the fourth quarter valued at about $29,000. National Bank of Canada FI purchased a new stake in Impinj in the third quarter valued at about $30,000. Farther Finance Advisors LLC raised its stake in 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 buying an additional 141 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Impinj in the fourth quarter valued at about $33,000. Finally, Jones Financial Companies Lllp raised its stake in Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock valued at $38,000 after buying an additional 175 shares during the last quarter.

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.