Impinj (NASDAQ:PI) Given New $132.00 Price Target at The Goldman Sachs Group

Impinj (NASDAQ:PI) had its price objective cut by The Goldman Sachs Group from $200.00 to $132.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently commented on the stock. Piper Sandler decreased their target price on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday. Cantor Fitzgerald lowered their price objective on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday. Evercore ISI reiterated an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Needham & Company LLC reduced their price target on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday. Finally, StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $180.10.

Impinj Trading Down 15.2 %

Shares of NASDAQ:PI opened at $107.76 on Thursday. The stock has a market capitalization of $3.05 billion, a P/E ratio of 121.08 and a beta of 1.88. The stock’s 50-day moving average price is $148.65 and its 200-day moving average price is $173.07. Impinj has a 12-month low of $97.77 and a 12-month high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings results 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 negative return on equity of 1.64% and a net margin of 8.21%. As a group, research analysts predict that Impinj will post 0.44 EPS for the current year.

Insider Transactions at Impinj

In other Impinj news, CFO Cary Baker sold 290 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $140.96, for a total value of $40,878.40. Following the sale, the chief financial officer now owns 71,754 shares in the company, valued at approximately $10,114,443.84. This represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $30,672.60. Following the transaction, the insider now owns 6,979 shares of the company’s stock, valued at $1,019,352.74. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,132 shares of company stock valued at $18,510,291. Corporate insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

A number of institutional investors have recently modified their holdings of the stock. First Bank & Trust raised its position in shares of Impinj by 3.2% in the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after purchasing an additional 55 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Impinj by 0.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock valued at $1,612,000 after purchasing an additional 100 shares in the last quarter. National Bank of Canada FI purchased a new position in Impinj in the third quarter worth about $30,000. Farther Finance Advisors LLC lifted its stake 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 worth $33,000 after buying an additional 141 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Impinj by 29.7% in the third quarter. KBC Group NV now owns 681 shares of the company’s stock worth $147,000 after buying an additional 156 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.