Hussein Mecklai Sells 822 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 822 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.18, for a total transaction of $171,945.96. Following the completion of the transaction, the chief operating officer now owns 59,374 shares of the company’s stock, valued at $12,419,853.32. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Hussein Mecklai also recently made the following trade(s):

• On Monday, July 15th, Hussein Mecklai sold 416 shares of Impinj stock. The shares were sold at an average price of $175.43, for a total transaction of $72,978.88.

Impinj Stock Performance

Shares of NASDAQ PI opened at $217.83 on Friday. The firm has a 50 day moving average price of $167.65 and a two-hundred day moving average price of $154.27. The stock has a market cap of $6.04 billion, a P/E ratio of -622.37 and a beta of 1.78. Impinj, Inc. has a 52-week low of $48.39 and a 52-week high of $220.17.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. The business had revenue of $102.50 million during the quarter, compared to analyst estimates of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. Impinj’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period last year, the company earned ($0.14) EPS. Analysts predict that Impinj, Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $205.00 price target on shares of Impinj in a research note on Thursday, July 25th. Piper Sandler lifted their target price on Impinj from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Lake Street Capital increased their target price on shares of Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Roth Mkm lifted their price target on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Susquehanna increased their price objective on shares of Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $187.10.

Hedge Funds Weigh In On Impinj

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Impinj during the 2nd quarter valued at approximately $1,395,000. Creative Planning boosted its stake in shares of Impinj by 13.8% in the 2nd quarter. Creative Planning now owns 9,759 shares of the company’s stock valued at $1,530,000 after purchasing an additional 1,180 shares during the last quarter. Algert Global LLC increased its position in shares of Impinj by 399.9% during the second quarter. Algert Global LLC now owns 15,871 shares of the company’s stock worth $2,488,000 after buying an additional 12,696 shares during the period. Scientech Research LLC raised its stake in Impinj by 37.5% during the second quarter. Scientech Research LLC now owns 2,373 shares of the company’s stock worth $372,000 after buying an additional 647 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in Impinj in the second quarter valued at $208,000.

About Impinj

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects 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.