IMPINJ Inc (NYSE:PI) had its price target decreased by investment analysts at Morgan Stanley from $37.00 to $29.00 in a research note issued on Thursday. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 15.06% from the stock’s current price.

Several other research firms have also weighed in on PI. Zacks Investment Research upgraded shares of IMPINJ from a “sell” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Wednesday, October 25th. Needham & Company LLC increased their price target on shares of IMPINJ from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Canaccord Genuity restated a “buy” rating and set a $50.00 price target (down previously from $57.00) on shares of IMPINJ in a research report on Friday, August 4th. Royal Bank Of Canada reduced their price target on shares of IMPINJ from $50.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, BidaskClub upgraded shares of IMPINJ from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 3rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $36.57.

IMPINJ (NYSE:PI) last posted its quarterly earnings results on Wednesday, November 1st. The company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). The company had revenue of $32.60 million for the quarter, compared to the consensus estimate of $32.58 million. IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. IMPINJ’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

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In other IMPINJ news, CFO Evan Fein sold 9,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $38.00, for a total transaction of $342,000.00. Following the sale, the chief financial officer now directly owns 15,300 shares of the company’s stock, valued at $581,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Eric Brodersen sold 3,500 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $35.74, for a total transaction of $125,090.00. Following the sale, the chief operating officer now directly owns 101,443 shares in the company, valued at $3,625,572.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,000 shares of company stock worth $1,392,420.

A number of large investors have recently added to or reduced their stakes in the stock. Carnegie Capital Asset Management LLC boosted its holdings in IMPINJ by 10.7% in the second quarter. Carnegie Capital Asset Management LLC now owns 15,230 shares of the company’s stock valued at $747,000 after acquiring an additional 1,470 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in IMPINJ by 95.1% in the second quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock valued at $176,000 after acquiring an additional 1,765 shares in the last quarter. Global X Management Co. LLC boosted its holdings in IMPINJ by 30.6% in the second quarter. Global X Management Co. LLC now owns 8,073 shares of the company’s stock valued at $393,000 after acquiring an additional 1,892 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in IMPINJ by 1,261.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after acquiring an additional 1,942 shares in the last quarter. Finally, Virtu KCG Holdings LLC boosted its holdings in IMPINJ by 40.6% in the second quarter. Virtu KCG Holdings LLC now owns 9,570 shares of the company’s stock valued at $466,000 after acquiring an additional 2,764 shares in the last quarter.

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 (NYSE:PI)

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