Impinj (NASDAQ:PI) Trading Down 6.9% – Time to Sell?

Impinj, Inc. (NASDAQ:PI)’s stock price fell 6.9% on Tuesday . The company traded as low as $86.19 and last traded at $84.41. 33,572 shares were traded during trading, a decline of 94% from the average session volume of 541,955 shares. The stock had previously closed at $90.70.

Analyst Ratings Changes

PI has been the topic of several research analyst reports. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Piper Sandler cut their price target on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. The Goldman Sachs Group decreased their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. 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 report on Thursday, February 6th. Finally, Susquehanna cut their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Impinj presently has an average rating of “Moderate Buy” and a consensus price target of $183.44.

Impinj Price Performance

The business has a fifty day moving average of $104.73 and a 200-day moving average of $156.08. The stock has a market cap of $2.50 billion, a PE ratio of 64.58 and a beta of 1.98.

Impinj (NASDAQ:PI) last issued its 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 return on equity of 7.11% and a net margin of 11.15%. As a group, equities research analysts predict that Impinj, Inc. will post -0.47 EPS for the current year.

Insider Buying and Selling at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 841 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $141.02, for a total value of $118,597.82. Following the completion of the sale, the chief executive officer now directly owns 333,856 shares in the company, valued at approximately $47,080,373.12. This trade represents a 0.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Jeffrey Dossett sold 378 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $141.05, for a total value of $53,316.90. Following the sale, the executive now owns 67,052 shares in the company, valued at $9,457,684.60. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,704 shares of company stock valued at $1,925,748. 51.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Impinj

Several large investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board purchased a new stake in shares of Impinj during the fourth quarter valued at $29,000. National Bank of Canada FI purchased a new position in shares of Impinj in the third quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Impinj in the fourth quarter worth $33,000. Jones Financial Companies Lllp lifted its position in 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 purchasing an additional 175 shares during the period. Finally, IFP Advisors Inc boosted its holdings in Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock valued at $53,000 after purchasing an additional 198 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.