Impinj (NASDAQ:PI) Upgraded to “Sell” by StockNews.com

StockNews.com upgraded shares of Impinj (NASDAQ:PIFree Report) to a sell rating in a research report sent to investors on Friday.

A number of other brokerages also recently commented on PI. Needham & Company LLC boosted their target price on shares of Impinj from $115.00 to $120.00 and gave the stock a buy rating in a report on Friday. Roth Mkm lifted their price objective on shares of Impinj from $95.00 to $115.00 and gave the stock a buy rating in a research report on Friday. Susquehanna increased their target price on shares of Impinj from $115.00 to $130.00 and gave the company a positive rating in a research report on Friday. Finally, The Goldman Sachs Group lifted their price target on shares of Impinj from $89.00 to $115.00 and gave the stock a buy rating in a report on Friday. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $106.43.

Get Our Latest Research Report on PI

Impinj Trading Up 3.5 %

PI opened at $110.04 on Friday. The company has a current ratio of 8.09, a quick ratio of 4.92 and a debt-to-equity ratio of 8.09. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of -103.81 and a beta of 2.04. Impinj has a 12 month low of $48.39 and a 12 month high of $144.90. The stock has a fifty day moving average price of $90.56 and a 200-day moving average price of $73.05.

Insider Transactions at Impinj

In other news, major shareholder Sylebra Capital Ltd acquired 37,513 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were acquired at an average cost of $82.91 per share, with a total value of $3,110,202.83. Following the completion of the acquisition, the insider now owns 4,197,352 shares of the company’s stock, valued at $348,002,454.32. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Cary Baker sold 1,468 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $82.94, for a total transaction of $121,755.92. Following the completion of the transaction, the chief financial officer now owns 53,821 shares of the company’s stock, valued at $4,463,913.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Sylebra Capital Ltd purchased 37,513 shares of the stock in a transaction on Monday, November 20th. The stock was acquired at an average cost of $82.91 per share, for a total transaction of $3,110,202.83. Following the completion of the acquisition, the insider now owns 4,197,352 shares of the company’s stock, valued at approximately $348,002,454.32. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 106,705 shares of company stock worth $8,401,329 and sold 5,565 shares worth $473,718. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates grew its stake in shares of Impinj by 3.3% during the 1st quarter. Raymond James & Associates now owns 17,095 shares of the company’s stock worth $1,086,000 after purchasing an additional 540 shares during the period. HighTower Advisors LLC raised its position in shares of Impinj by 21.7% in the first quarter. HighTower Advisors LLC now owns 7,326 shares of the company’s stock worth $466,000 after acquiring an additional 1,305 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Impinj by 55.2% during the 1st quarter. MetLife Investment Management LLC now owns 10,123 shares of the company’s stock worth $643,000 after acquiring an additional 3,601 shares in the last quarter. Rhumbline Advisers grew its position in shares of Impinj by 2.7% during the 1st quarter. Rhumbline Advisers now owns 19,620 shares of the company’s stock valued at $1,247,000 after acquiring an additional 516 shares during the period. Finally, BlackRock Inc. grew its position in shares of Impinj by 1.5% during the 1st quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock valued at $89,758,000 after acquiring an additional 20,404 shares during the period.

About Impinj

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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.

Further Reading

Analyst Recommendations for Impinj (NASDAQ:PI)

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