Impinj, Inc. (NASDAQ:PI – Get Free Report) dropped 3.9% during mid-day trading on Tuesday . The stock traded as low as $158.33 and last traded at $159.74. Approximately 132,421 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 430,338 shares. The stock had previously closed at $166.30.
Wall Street Analysts Forecast Growth
PI has been the topic of several recent analyst reports. The Goldman Sachs Group cut Impinj from a “buy” rating to a “neutral” rating and set a $156.00 target price on the stock. in a research note on Monday, May 20th. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 price objective (up from $130.00) on shares of Impinj in a research report on Thursday, April 25th. Needham & Company LLC lifted their price objective on Impinj from $160.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Canaccord Genuity Group lifted their price objective on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, Susquehanna lifted their price objective on Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research report on Tuesday, April 23rd. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.10.
Impinj Stock Down 4.7 %
The company’s fifty day moving average price is $141.99 and its 200-day moving average price is $111.22. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29.
Impinj (NASDAQ:PI – Get Free Report) last released its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The firm had revenue of $76.83 million during the quarter, compared to analyst estimates of $73.57 million. Sell-side analysts predict that Impinj, Inc. will post 0.02 EPS for the current year.
Insider Activity
In related news, CFO Cary Baker sold 306 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $123.55, for a total value of $37,806.30. Following the completion of the transaction, the chief financial officer now owns 65,748 shares of the company’s stock, valued at approximately $8,123,165.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Impinj news, Director Umesh Padval sold 3,475 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $151.39, for a total value of $526,080.25. Following the transaction, the director now directly owns 3,529 shares in the company, valued at approximately $534,255.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Cary Baker sold 306 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $123.55, for a total transaction of $37,806.30. Following the completion of the transaction, the chief financial officer now owns 65,748 shares in the company, valued at $8,123,165.40. The disclosure for this sale can be found here. Insiders sold a total of 82,054 shares of company stock valued at $11,827,880 in the last 90 days. Company insiders own 51.00% of the company’s stock.
Institutional Investors Weigh In On Impinj
Several institutional investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new position in shares of Impinj in the first quarter worth $32,000. GAMMA Investing LLC purchased a new position in shares of Impinj in the fourth quarter worth $40,000. Headlands Technologies LLC purchased a new position in shares of Impinj during the fourth quarter worth $58,000. Whittier Trust Co. purchased a new position in shares of Impinj during the fourth quarter worth $90,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Impinj by 117.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after purchasing an additional 521 shares during 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.