Impinj (NASDAQ:PI) Shares Down 6.9%

Impinj, Inc. (NASDAQ:PI)’s stock price traded down 6.9% during trading on Friday . The company traded as low as $144.44 and last traded at $144.82. 231,385 shares were traded during mid-day trading, a decline of 43% from the average session volume of 403,165 shares. The stock had previously closed at $155.55.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Evercore ISI assumed coverage on Impinj in a report on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 price objective on the stock. Roth Mkm increased their price objective on Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC increased their price objective on Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday. Canaccord Genuity Group increased their price target on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Finally, StockNews.com upgraded Impinj to a “sell” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.89.

Impinj Price Performance

The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of -416.97 and a beta of 2.05. The company’s 50-day moving average is $118.27 and its 200-day moving average is $94.35.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 81.75%. The firm had revenue of $76.83 million during the quarter, compared to analyst estimates of $73.57 million. Equities research analysts expect that Impinj, Inc. will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Cary Baker sold 306 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $123.55, for a total transaction of $37,806.30. Following the completion of the sale, the chief financial officer now directly owns 65,748 shares of the company’s stock, valued at approximately $8,123,165.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Impinj news, CFO Cary Baker sold 306 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $123.55, for a total transaction of $37,806.30. Following the sale, the chief financial officer now owns 65,748 shares of the company’s stock, valued at approximately $8,123,165.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 16,060 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $101.16, for a total transaction of $1,624,629.60. Following the completion of the sale, the chief executive officer now directly owns 278,863 shares of the company’s stock, valued at approximately $28,209,781.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,185 shares of company stock valued at $12,767,674. 17.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Impinj

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Impinj by 2.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock worth $462,000 after purchasing an additional 115 shares during the last quarter. Wealth Effects LLC lifted its stake in Impinj by 1.0% in the first quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock valued at $1,945,000 after buying an additional 150 shares during the period. Arizona State Retirement System increased its stake in shares of Impinj by 3.3% in the 3rd quarter. Arizona State Retirement System now owns 6,450 shares of the company’s stock valued at $355,000 after acquiring an additional 205 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj in the 1st quarter valued at approximately $32,000. Finally, GAMMA Investing LLC bought a new position in Impinj during the 4th quarter worth approximately $40,000.

About Impinj

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.