Needham & Company LLC Lowers Impinj (NASDAQ:PI) Price Target to $130.00

Impinj (NASDAQ:PI) had its target price trimmed by Needham & Company LLC from $182.00 to $130.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the stock. Evercore ISI restated an “outperform” rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Piper Sandler decreased their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday. The Goldman Sachs Group raised their target price on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Susquehanna cut their price target on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Finally, Lake Street Capital raised their price objective on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Impinj currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.10.

Impinj Price Performance

NASDAQ:PI opened at $107.76 on Thursday. The business’s 50-day moving average is $148.65 and its two-hundred day moving average is $173.07. The firm has a market capitalization of $3.05 billion, a PE ratio of 121.08 and a beta of 1.88. Impinj has a 12 month low of $97.77 and a 12 month high of $239.88.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. Equities analysts anticipate that Impinj will post 0.44 EPS for the current year.

Insider Buying and Selling at Impinj

In other news, insider Cathal G. Phelan sold 210 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $30,672.60. Following the completion of the sale, the insider now directly owns 6,979 shares in the company, valued at approximately $1,019,352.74. The trade was a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Sylebra Capital Llc sold 78,616 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $201.79, for a total value of $15,863,922.64. Following the transaction, the insider now owns 2,143,736 shares in the company, valued at $432,584,487.44. This trade represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,132 shares of company stock worth $18,510,291 over the last quarter. 51.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Impinj

A number of institutional investors have recently modified their holdings of PI. First Bank & Trust lifted its holdings in Impinj by 3.2% in the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after acquiring an additional 55 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Impinj by 0.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock worth $1,612,000 after purchasing an additional 100 shares during the period. National Bank of Canada FI acquired a new stake in shares of Impinj during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC lifted its holdings in shares of Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares during the last quarter. Finally, KBC Group NV boosted its position in Impinj by 29.7% during the 3rd quarter. KBC Group NV now owns 681 shares of the company’s stock valued at $147,000 after purchasing an additional 156 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.