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

Impinj, Inc. (NASDAQ:PI)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $91.55 and last traded at $91.55, with a volume of 255813 shares. The stock had previously closed at $96.28.

Analyst Ratings Changes

PI has been the topic of several research reports. Cantor Fitzgerald dropped their price objective on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Piper Sandler dropped their price target on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. The Goldman Sachs Group reduced their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Finally, Susquehanna cut their target price on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and an average price target of $180.10.

Impinj Stock Performance

The firm has a market capitalization of $2.61 billion, a P/E ratio of 67.21 and a beta of 1.88. The firm has a 50 day simple moving average of $129.01 and a two-hundred day simple moving average of $167.74.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. Sell-side analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current year.

Insider Activity at Impinj

In other news, 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 transaction of $72,883.94. Following the completion of the transaction, the chief financial officer now owns 71,107 shares in the company, valued at approximately $10,385,888.42. This represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the completion of the sale, the chief executive officer now owns 354,076 shares in the company, valued at $34,975,627.28. This represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,323 shares of company stock valued at $2,454,588. 51.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. National Bank of Canada FI bought a new position in shares of Impinj in the third quarter worth $30,000. Farther Finance Advisors LLC lifted its holdings in Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Impinj in the 4th quarter worth about $29,000. SBI Securities Co. Ltd. purchased a new position in Impinj during the 4th quarter valued at about $33,000. Finally, Jones Financial Companies Lllp increased its position in shares of Impinj by 205.9% during 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 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.