Hussein Mecklai Sells 3,739 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 3,739 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.81, for a total transaction of $369,450.59. Following the completion of the transaction, the chief operating officer now directly owns 70,347 shares in the company, valued at $6,950,987.07. This trade represents a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, January 13th, Hussein Mecklai sold 338 shares of Impinj stock. The shares were sold at an average price of $141.02, for a total transaction of $47,664.76.
• On Tuesday, December 24th, Hussein Mecklai sold 826 shares of Impinj stock. The shares were sold at an average price of $146.07, for a total transaction of $120,653.82.

Impinj Stock Performance

Impinj stock opened at $93.14 on Wednesday. Impinj, Inc. has a fifty-two week low of $91.99 and a fifty-two week high of $239.88. The firm has a 50 day moving average price of $131.02 and a 200 day moving average price of $168.64. The company has a market capitalization of $2.66 billion, a PE ratio of 68.49 and a beta of 1.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. As a group, equities research analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PI has been the topic of several analyst reports. Cantor Fitzgerald reduced their price target on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Susquehanna reduced their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Needham & Company LLC reduced their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, The Goldman Sachs Group reduced their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $180.10.

Hedge Funds Weigh In On Impinj

Several institutional investors have recently modified their holdings of PI. Capital International Investors grew its stake in shares of Impinj by 45.0% in the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock worth $221,897,000 after acquiring an additional 473,721 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Impinj by 3,824.4% in the fourth quarter. Janus Henderson Group PLC now owns 435,960 shares of the company’s stock worth $63,310,000 after acquiring an additional 424,851 shares in the last quarter. Norges Bank acquired a new position in shares of Impinj in the fourth quarter worth $40,100,000. Sylebra Capital LLC grew its stake in shares of Impinj by 8.6% in the fourth quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company’s stock worth $504,360,000 after acquiring an additional 274,764 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Impinj by 25.7% in the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock worth $233,555,000 after acquiring an additional 220,776 shares in the last quarter.

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.