Impinj (NASDAQ:PI) Hits New 12-Month Low – Should You Sell?

Shares of Impinj, Inc. (NASDAQ:PI) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $91.55 and last traded at $91.55, with a volume of 255813 shares traded. The stock had previously closed at $96.28.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PI. Cantor Fitzgerald dropped their price objective on Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Piper Sandler decreased their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Susquehanna lowered their target price 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. Finally, The Goldman Sachs Group cut their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Impinj has an average rating of “Moderate Buy” and a consensus price target of $180.10.

Impinj Stock Performance

The company has a market cap of $2.61 billion, a P/E ratio of 67.21 and a beta of 1.88. The business has a 50 day moving average price of $129.01 and a two-hundred day moving average price of $167.74.

Impinj (NASDAQ:PI) last announced 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 11.15% and a return on equity of 7.11%. As a group, research analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Chris Ph.D. Diorio sold 8,334 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the transaction, the chief executive officer now owns 354,076 shares in the company, valued at $34,975,627.28. This represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Cary Baker sold 499 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $72,883.94. Following the completion of the sale, the chief financial officer now directly owns 71,107 shares of the company’s stock, valued at $10,385,888.42. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,323 shares of company stock valued at $2,454,588 in the last quarter. Insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board bought a new stake in shares of Impinj during the 4th quarter valued at about $29,000. National Bank of Canada FI purchased a new stake in Impinj in the third quarter worth about $30,000. Farther Finance Advisors LLC boosted its position in Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after acquiring an additional 141 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Impinj during the 4th quarter worth approximately $33,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Impinj by 205.9% during the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after acquiring an additional 175 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.