Impinj (NASDAQ:PI) Price Target Cut to $133.00 by Analysts at Cantor Fitzgerald

Impinj (NASDAQ:PI) had its target price lowered by Cantor Fitzgerald from $260.00 to $133.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 4.67% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Susquehanna dropped their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Lake Street Capital increased their price target on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC dropped their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $186.90.

Impinj Trading Up 0.4 %

Impinj stock opened at $127.06 on Thursday. The stock has a fifty day moving average price of $149.90 and a 200 day moving average price of $173.40. Impinj has a 52 week low of $97.77 and a 52 week high of $239.88. The firm has a market capitalization of $3.59 billion, a P/E ratio of 142.76 and a beta of 1.88.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. As a group, equities analysts predict that Impinj will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Sylebra Capital Llc sold 250,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $203.00, for a total transaction of $50,750,000.00. Following the completion of the sale, the insider now owns 2,222,352 shares in the company, valued at approximately $451,137,456. This represents a 10.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Hussein Mecklai sold 338 shares of Impinj stock in a transaction on Monday, January 13th. The stock was sold at an average price of $141.02, for a total value of $47,664.76. Following the completion of the transaction, the chief operating officer now owns 61,586 shares in the company, valued at $8,684,857.72. The trade was a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 355,681 shares of company stock worth $71,579,446 over the last ninety days. Company insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new position in shares of Impinj in the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC increased its stake in Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after buying an additional 141 shares during the period. SBI Securities Co. Ltd. acquired a new position in Impinj in the 4th quarter valued at approximately $33,000. Jones Financial Companies Lllp lifted its position in Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after buying an additional 175 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Impinj by 116.5% during the 4th quarter. IFP Advisors Inc now owns 368 shares of the company’s stock valued at $53,000 after buying an additional 198 shares during the period.

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.