Impinj (NASDAQ:PI) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Impinj (NASDAQ:PI) from a hold rating to a sell rating in a report published on Friday morning.

PI has been the subject of a number of other reports. The Goldman Sachs Group boosted their price objective on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday. Lake Street Capital upped their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday. Susquehanna lifted their target price on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. Needham & Company LLC increased their price target on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Cantor Fitzgerald boosted their price objective on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $224.60.

Impinj Stock Up 4.4 %

Impinj stock opened at $200.70 on Friday. Impinj has a 52-week low of $58.56 and a 52-week high of $239.88. The company has a market cap of $5.64 billion, a P/E ratio of 692.07 and a beta of 1.80. The business has a 50-day simple moving average of $196.40 and a two-hundred day simple moving average of $168.96.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same period in the previous year, the business posted ($0.36) earnings per share. The firm’s quarterly revenue was up 46.5% compared to the same quarter last year. Research analysts anticipate that Impinj will post 0.31 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Impinj news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the business’s stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Cathal G. Phelan sold 209 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total transaction of $43,712.35. Following the completion of the sale, the insider now directly owns 17,647 shares of the company’s stock, valued at $3,690,870.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,779 shares of company stock valued at $3,825,046. Corporate insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PI. New York State Teachers Retirement System purchased a new position in shares of Impinj in the 3rd quarter worth approximately $1,126,000. State of Alaska Department of Revenue purchased a new stake in Impinj during the 3rd quarter worth approximately $2,813,000. First Bank & Trust grew its holdings in shares of Impinj by 3.2% during the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock valued at $383,000 after buying an additional 55 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Impinj by 157.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,278 shares of the company’s stock valued at $2,009,000 after purchasing an additional 5,669 shares during the last quarter. Finally, Consolidated Portfolio Review Corp acquired a new position in Impinj in the 3rd quarter worth approximately $1,861,000.

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.