Impinj (NASDAQ:PI) Downgraded by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Impinj (NASDAQ:PI) from a buy rating to a neutral rating in a research note released on Monday, MarketBeat reports. The Goldman Sachs Group currently has $156.00 price objective on the stock.

PI has been the subject of several other reports. StockNews.com upgraded Impinj from a sell rating to a hold rating in a report on Friday, April 26th. Roth Mkm lifted their price target on Impinj from $125.00 to $145.00 and gave the company a buy rating in a report on Thursday, April 25th. Evercore ISI assumed coverage on Impinj in a report on Tuesday, April 16th. They set an outperform rating and a $160.00 price target for the company. Canaccord Genuity Group lifted their price target on Impinj from $130.00 to $150.00 and gave the company a buy rating in a report on Thursday, March 14th. Finally, Piper Sandler reiterated an overweight rating and set a $150.00 price target (up from $130.00) on shares of Impinj in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $143.10.

Impinj Trading Down 2.8 %

NASDAQ:PI opened at $168.49 on Monday. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29. Impinj has a 1-year low of $48.39 and a 1-year high of $175.41. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of -481.40 and a beta of 1.85. The stock has a fifty day simple moving average of $140.25 and a 200 day simple moving average of $109.25.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The business had revenue of $76.83 million during the quarter, compared to analyst estimates of $73.57 million. Sell-side analysts forecast that Impinj will post 0.02 earnings per share for the current year.

Insiders Place Their Bets

In other Impinj news, insider Cathal G. Phelan sold 841 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.83, for a total value of $106,664.03. Following the transaction, the insider now owns 25,801 shares of the company’s stock, valued at $3,272,340.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Cathal G. Phelan sold 841 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.83, for a total transaction of $106,664.03. Following the completion of the sale, the insider now owns 25,801 shares in the company, valued at $3,272,340.83. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Cathal G. Phelan sold 708 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $166.99, for a total value of $118,228.92. Following the sale, the insider now owns 16,468 shares of the company’s stock, valued at approximately $2,749,991.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,509 shares of company stock valued at $12,503,735. 51.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Impinj

A number of institutional investors and hedge funds have recently made changes to their positions in PI. Future Financial Wealth Managment LLC bought a new stake in Impinj in the first quarter valued at about $32,000. GAMMA Investing LLC bought a new stake in shares of Impinj in the fourth quarter worth about $40,000. Headlands Technologies LLC bought a new stake in shares of Impinj in the fourth quarter worth about $58,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Impinj by 117.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after acquiring an additional 521 shares in the last quarter. Finally, Whittier Trust Co. bought a new stake in shares of Impinj in the fourth quarter worth about $90,000.

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.