Impinj (NASDAQ:PI) Lifted to “Sell” at StockNews.com

StockNews.com upgraded shares of Impinj (NASDAQ:PIFree Report) to a sell rating in a research report released on Friday morning.

A number of other research firms have also commented on PI. The Goldman Sachs Group lifted their target price on shares of Impinj from $89.00 to $115.00 and gave the stock a buy rating in a report on Friday. Susquehanna upped their target price on shares of Impinj from $115.00 to $130.00 and gave the company a positive rating in a research note on Friday. Roth Mkm lifted their price target on shares of Impinj from $95.00 to $115.00 and gave the stock a buy rating in a research report on Friday. Finally, Needham & Company LLC upped their price objective on shares of Impinj from $115.00 to $120.00 and gave the company a buy rating in a research report on Friday. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Impinj has an average rating of Hold and an average target price of $106.43.

Get Our Latest Analysis on Impinj

Impinj Trading Down 1.1 %

Shares of NASDAQ PI opened at $108.85 on Friday. Impinj has a 1-year low of $48.39 and a 1-year high of $144.90. The company has a 50-day moving average of $91.48 and a two-hundred day moving average of $73.44. The company has a market cap of $2.95 billion, a PE ratio of -67.19 and a beta of 2.04. The company has a current ratio of 8.09, a quick ratio of 4.92 and a debt-to-equity ratio of 8.09.

Insider Activity

In other news, major shareholder Sylebra Capital Ltd bought 37,513 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average cost of $82.91 per share, with a total value of $3,110,202.83. Following the transaction, the insider now directly owns 4,197,352 shares of the company’s stock, valued at approximately $348,002,454.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Impinj news, major shareholder Sylebra Capital Ltd purchased 37,513 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average cost of $82.91 per share, for a total transaction of $3,110,202.83. Following the completion of the acquisition, the insider now owns 4,197,352 shares of the company’s stock, valued at approximately $348,002,454.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jeffrey Dossett sold 371 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $81.17, for a total transaction of $30,114.07. Following the sale, the executive now owns 46,118 shares of the company’s stock, valued at approximately $3,743,398.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,565 shares of company stock valued at $473,718. 17.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Impinj

A number of large investors have recently added to or reduced their stakes in PI. Waterfront Wealth Inc. grew its holdings in shares of Impinj by 7.7% during the 2nd quarter. Waterfront Wealth Inc. now owns 8,752 shares of the company’s stock valued at $706,000 after purchasing an additional 628 shares during the last quarter. Raymond James & Associates grew its stake in shares of Impinj by 24.5% during the second quarter. Raymond James & Associates now owns 47,303 shares of the company’s stock valued at $4,241,000 after buying an additional 9,315 shares during the last quarter. CENTRAL TRUST Co purchased a new position in shares of Impinj in the second quarter worth about $238,000. Creative Planning lifted its stake in shares of Impinj by 10.7% in the 2nd quarter. Creative Planning now owns 9,148 shares of the company’s stock valued at $820,000 after acquiring an additional 883 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Impinj by 101.9% during the 3rd quarter. SG Americas Securities LLC now owns 30,894 shares of the company’s stock valued at $1,700,000 after acquiring an additional 15,591 shares during the period.

Impinj Company Profile

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Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

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Analyst Recommendations for Impinj (NASDAQ:PI)

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