Impinj, Inc. (NASDAQ:PI – Get Free Report) shares reached a new 52-week low during trading on Friday . The company traded as low as $52.85 and last traded at $52.92, with a volume of 58688 shares trading hands. The stock had previously closed at $53.71.
Analyst Ratings Changes
A number of research firms have recently commented on PI. BWS Financial began coverage on Impinj in a research note on Monday, June 26th. They issued a “sell” rating and a $45.00 target price for the company. StockNews.com upgraded Impinj to a “sell” rating in a research note on Thursday, August 24th. Lake Street Capital lowered their target price on Impinj from $130.00 to $90.00 in a research note on Thursday, July 27th. Finally, Needham & Company LLC lowered their target price on Impinj from $145.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, Impinj presently has a consensus rating of “Hold” and an average target price of $112.00.
Get Our Latest Analysis on Impinj
Impinj Stock Up 1.7 %
Impinj (NASDAQ:PI – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). The business had revenue of $85.99 million during the quarter, compared to analysts’ expectations of $85.43 million. Impinj had a negative return on equity of 23.30% and a negative net margin of 4.65%. Sell-side analysts predict that Impinj, Inc. will post -1.1 EPS for the current fiscal year.
Insiders Place Their Bets
In other Impinj news, CEO Chris Ph.D. Diorio sold 622 shares of Impinj stock in a transaction on Monday, September 18th. The stock was sold at an average price of $63.22, for a total value of $39,322.84. Following the completion of the sale, the chief executive officer now owns 300,537 shares of the company’s stock, valued at approximately $18,999,949.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CRO Jeffrey Dossett sold 746 shares of Impinj stock in a transaction on Monday, September 18th. The stock was sold at an average price of $63.21, for a total value of $47,154.66. Following the completion of the sale, the executive now owns 39,874 shares of the company’s stock, valued at $2,520,435.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 622 shares of Impinj stock in a transaction on Monday, September 18th. The stock was sold at an average price of $63.22, for a total value of $39,322.84. Following the completion of the sale, the chief executive officer now directly owns 300,537 shares of the company’s stock, valued at approximately $18,999,949.14. The disclosure for this sale can be found here. In the last quarter, insiders acquired 674,101 shares of company stock valued at $40,527,175 and sold 19,434 shares valued at $1,526,358. Corporate insiders own 17.10% of the company’s stock.
Institutional Trading of Impinj
Several large investors have recently modified their holdings of the company. C M Bidwell & Associates Ltd. bought a new stake in Impinj during the first quarter valued at about $39,000. Advisors Asset Management Inc. purchased a new position in shares of Impinj in the first quarter valued at about $39,000. Focused Wealth Management Inc purchased a new position in shares of Impinj in the first quarter valued at about $54,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Impinj by 65.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 832 shares of the company’s stock valued at $75,000 after acquiring an additional 329 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Impinj in the first quarter valued at about $80,000.
About Impinj
Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.
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