Impinj (NASDAQ:PI) Shares Down 4.6% – Time to Sell?

Shares of Impinj, Inc. (NASDAQ:PI) traded down 4.6% during trading on Thursday . The company traded as low as $124.86 and last traded at $125.41. 322,585 shares changed hands during trading, a decline of 47% from the average session volume of 613,041 shares. The stock had previously closed at $131.52.

Analyst Upgrades and Downgrades

PI has been the subject of several recent analyst reports. Needham & Company LLC dropped their target price on Impinj from $245.00 to $182.00 and set a “buy” rating for the company in a research report on Friday, January 17th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Evercore ISI restated an “outperform” rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Piper Sandler restated an “overweight” rating and issued a $235.00 target price (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.30.

Impinj Stock Performance

The firm’s fifty day moving average price is $155.19 and its 200 day moving average price is $174.77. The firm has a market cap of $3.62 billion, a P/E ratio of 143.75 and a beta of 1.88.

Insider Buying and Selling

In other news, CEO Chris Ph.D. Diorio sold 1,504 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total value of $219,914.88. Following the sale, the chief executive officer now directly owns 331,572 shares in the company, valued at approximately $48,482,457.84. This trade represents a 0.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sylebra Capital Llc sold 250,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 2,222,352 shares of the company’s stock, valued at approximately $451,137,456. This trade represents a 10.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 563,533 shares of company stock valued at $112,739,581 over the last 90 days. Corporate insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Peregrine Investment Management Inc. acquired a new position in Impinj in the 4th quarter worth approximately $3,777,000. New York State Teachers Retirement System boosted its holdings in shares of Impinj by 43.1% in the 4th quarter. New York State Teachers Retirement System now owns 7,441 shares of the company’s stock valued at $1,081,000 after acquiring an additional 2,241 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Impinj by 85.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company’s stock worth $174,000 after acquiring an additional 542 shares during the period. Van ECK Associates Corp raised its holdings in shares of Impinj by 248.8% during the fourth quarter. Van ECK Associates Corp now owns 4,928 shares of the company’s stock worth $716,000 after purchasing an additional 3,515 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Impinj by 0.9% during the fourth 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 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.