IMPINJ Inc (NYSE:PI) had its price objective decreased by Royal Bank Of Canada from $59.00 to $50.00 in a report issued on Friday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 33.26% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC raised their target price on shares of IMPINJ from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Canaccord Genuity restated a “buy” rating and set a $50.00 target price (down previously from $57.00) on shares of IMPINJ in a research note on Friday. Morgan Stanley cut shares of IMPINJ from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $40.00 to $51.00 in a research note on Monday, June 19th. Zacks Investment Research cut shares of IMPINJ from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, KeyCorp cut shares of IMPINJ to a “hold” rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $43.63.

IMPINJ (PI) traded down 21.70% on Friday, hitting $37.52. 4,861,036 shares of the stock traded hands. The firm’s 50 day moving average is $52.16 and its 200 day moving average is $39.25. IMPINJ has a 52 week low of $18.35 and a 52 week high of $60.85. The stock’s market cap is $774.23 million.

IMPINJ (NYSE:PI) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $34.10 million during the quarter, compared to analysts’ expectations of $33.41 million. IMPINJ had a negative net margin of 6.81% and a negative return on equity of 6.95%. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 earnings per share. Equities analysts anticipate that IMPINJ will post $0.23 earnings per share for the current year.

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In related news, Director Oppen Peter H. Van sold 24,166 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $44.02, for a total transaction of $1,063,787.32. Following the transaction, the director now directly owns 51,200 shares of the company’s stock, valued at $2,253,824. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Eric Brodersen sold 3,500 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $53.21, for a total transaction of $186,235.00. Following the transaction, the chief operating officer now directly owns 106,743 shares in the company, valued at $5,679,795.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,666 shares of company stock valued at $3,857,412.

A number of institutional investors have recently added to or reduced their stakes in PI. Capital Asset Advisory Services LLC raised its position in IMPINJ by 25.8% in the first quarter. Capital Asset Advisory Services LLC now owns 7,310 shares of the company’s stock worth $221,000 after buying an additional 1,500 shares in the last quarter. Global X Management Co. LLC raised its position in IMPINJ by 30.6% in the second quarter. Global X Management Co. LLC now owns 8,073 shares of the company’s stock worth $393,000 after buying an additional 1,892 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in IMPINJ by 1,261.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock worth $102,000 after buying an additional 1,942 shares in the last quarter. Turner Investments LLC acquired a new position in IMPINJ during the second quarter worth approximately $146,000. Finally, Geode Capital Management LLC raised its position in IMPINJ by 4.6% in the first quarter. Geode Capital Management LLC now owns 69,703 shares of the company’s stock worth $2,109,000 after buying an additional 3,050 shares in the last quarter.

IMPINJ Company Profile

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 (NYSE:PI)

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