Impinj (NASDAQ:PI) Price Target Cut to $132.00 by Analysts at The Goldman Sachs Group

Impinj (NASDAQ:PI) had its price target reduced by The Goldman Sachs Group from $200.00 to $132.00 in a research note published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the company. Lake Street Capital raised their price target on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Cantor Fitzgerald lowered their target price on Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday. Susquehanna cut their price target on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. Piper Sandler lowered their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. One 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $180.10.

Impinj Stock Performance

PI opened at $107.76 on Thursday. The company’s 50-day simple moving average is $148.65 and its two-hundred day simple moving average is $173.07. The stock has a market capitalization of $3.05 billion, a P/E ratio of 121.08 and a beta of 1.88. Impinj has a 52-week low of $97.77 and a 52-week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share 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%. Research analysts forecast that Impinj will post 0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Hussein Mecklai sold 338 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $141.02, for a total transaction of $47,664.76. Following the completion of the sale, the chief operating officer now owns 61,586 shares in the company, valued at approximately $8,684,857.72. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sylebra Capital Llc sold 78,616 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 2,143,736 shares in the company, valued at approximately $432,584,487.44. This represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,132 shares of company stock worth $18,510,291. Company insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Institutional investors have recently bought and sold shares of the stock. First Bank & Trust lifted its stake in Impinj by 3.2% in the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after purchasing an additional 55 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Impinj by 0.9% in 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. National Bank of Canada FI bought a new stake in shares of Impinj in the third quarter worth about $30,000. Farther Finance Advisors LLC lifted its position in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after buying an additional 141 shares in the last quarter. Finally, KBC Group NV boosted its stake in Impinj by 29.7% during the third quarter. KBC Group NV now owns 681 shares of the company’s stock valued at $147,000 after buying an additional 156 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.