Needham & Company LLC cut shares of IMPINJ (NASDAQ:PI) from a buy rating to a hold rating in a research note published on Friday morning, Marketbeat Ratings reports.
Other research analysts have also recently issued reports about the company. Dougherty & Co lowered their price objective on IMPINJ from $62.00 to $42.00 and set a buy rating for the company in a research report on Thursday, November 2nd. ValuEngine cut IMPINJ from a hold rating to a sell rating in a research report on Friday. Royal Bank of Canada cut IMPINJ from an outperform rating to a sector perform rating and set a $17.00 price objective for the company. in a research report on Friday. Canaccord Genuity cut IMPINJ from a buy rating to a hold rating and lowered their price objective for the stock from $35.00 to $20.00 in a research report on Friday. Finally, KeyCorp reaffirmed a hold rating on shares of IMPINJ in a research report on Friday, November 3rd. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $28.14.
IMPINJ (PI) opened at $12.16 on Friday. IMPINJ has a 1 year low of $12.01 and a 1 year high of $60.85. The company has a current ratio of 7.49, a quick ratio of 4.97 and a debt-to-equity ratio of 0.06.
In related news, insider Eric Brodersen sold 5,400 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $25.43, for a total value of $137,322.00. Following the completion of the sale, the insider now directly owns 78,743 shares of the company’s stock, valued at approximately $2,002,434.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Clinton Bybee bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average cost of $24.43 per share, with a total value of $97,720.00. Following the completion of the transaction, the director now owns 4,417 shares in the company, valued at $107,907.31. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 14,400 shares of company stock valued at $363,006. Insiders own 15.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. acquired a new stake in shares of IMPINJ in the 3rd quarter valued at about $116,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of IMPINJ in the 3rd quarter valued at about $128,000. WealthTrust Arizona LLC acquired a new stake in shares of IMPINJ in the 4th quarter valued at about $144,000. PNC Financial Services Group Inc. boosted its position in shares of IMPINJ by 95.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock valued at $176,000 after purchasing an additional 1,765 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of IMPINJ in the 2nd quarter valued at about $180,000. 80.39% of the stock is owned by hedge funds and other institutional investors.
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.
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