IMPINJ (NASDAQ:PI) had its price objective trimmed by Piper Jaffray Companies from $27.50 to $18.00 in a research note issued to investors on Friday. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also weighed in on PI. Canaccord Genuity lowered IMPINJ from a buy rating to a hold rating and dropped their price objective for the company from $35.00 to $20.00 in a research note on Friday. Needham & Company LLC lowered IMPINJ from a buy rating to a hold rating in a research note on Friday. BidaskClub lowered IMPINJ from a sell rating to a strong sell rating in a research note on Friday, January 26th. Zacks Investment Research lowered IMPINJ from a buy rating to a hold rating in a research note on Friday, October 27th. Finally, ValuEngine lowered IMPINJ from a hold rating to a sell rating in a research note on Friday. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $28.14.

Shares of IMPINJ (NASDAQ:PI) opened at $12.16 on Friday. The company has a quick ratio of 4.97, a current ratio of 7.49 and a debt-to-equity ratio of 0.06. IMPINJ has a 52 week low of $12.01 and a 52 week high of $60.85.

In related news, CFO Evan Fein sold 5,700 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $25.01, for a total transaction of $142,557.00. Following the completion of the transaction, the chief financial officer now owns 17,500 shares in the company, valued at $437,675. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric Brodersen sold 5,400 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $25.43, for a total value of $137,322.00. Following the transaction, the insider now owns 78,743 shares of the company’s stock, valued at approximately $2,002,434.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,400 shares of company stock valued at $363,006. Insiders own 15.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in PI. Schwab Charles Investment Management Inc. raised its holdings in shares of IMPINJ by 216.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 30,100 shares of the company’s stock valued at $1,465,000 after acquiring an additional 20,600 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of IMPINJ by 221.3% during the second quarter. Legal & General Group Plc now owns 4,520 shares of the company’s stock valued at $223,000 after acquiring an additional 3,113 shares in the last quarter. Swiss National Bank raised its holdings in shares of IMPINJ by 52.2% during the second quarter. Swiss National Bank now owns 27,400 shares of the company’s stock valued at $1,333,000 after acquiring an additional 9,400 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of IMPINJ by 137.8% during the second quarter. Wells Fargo & Company MN now owns 17,098 shares of the company’s stock valued at $832,000 after acquiring an additional 9,909 shares in the last quarter. Finally, Teachers Advisors LLC raised its holdings in shares of IMPINJ by 174.2% during the second quarter. Teachers Advisors LLC now owns 32,599 shares of the company’s stock valued at $1,586,000 after acquiring an additional 20,709 shares in the last quarter. Institutional investors own 80.39% of the company’s stock.

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About IMPINJ

Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.

Analyst Recommendations for IMPINJ (NASDAQ:PI)

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