Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai Sells 338 Shares

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 338 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $141.02, for a total transaction of $47,664.76. Following the completion of the sale, the chief operating officer now directly owns 61,586 shares of the company’s stock, valued at $8,684,857.72. This represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 value of $120,653.82.
• On Monday, October 28th, Hussein Mecklai sold 10,000 shares of Impinj stock. The shares were sold at an average price of $204.75, for a total value of $2,047,500.00.

Impinj Trading Down 8.6 %

NASDAQ:PI opened at $136.52 on Thursday. The company has a 50-day moving average price of $166.12 and a 200-day moving average price of $176.71. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 153.39 and a beta of 1.88. Impinj, Inc. has a 12 month low of $78.17 and a 12 month high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same period last year, the business posted ($0.36) earnings per share. Impinj’s quarterly revenue was up 46.5% compared to the same quarter last year. Equities analysts forecast that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Impinj

Hedge funds have recently made changes to their positions in the company. National Bank of Canada FI purchased a new position in Impinj during the third quarter valued at $30,000. Farther Finance Advisors LLC grew its position in shares of Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after buying an additional 141 shares during the period. Future Financial Wealth Managment LLC bought a new position in shares of Impinj in the 3rd quarter worth about $54,000. Asset Management One Co. Ltd. purchased a new position in Impinj during the 3rd quarter valued at about $138,000. Finally, USA Financial Formulas boosted its stake in Impinj by 82.0% during the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock worth $142,000 after acquiring an additional 296 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have commented on PI. Susquehanna lifted their price target on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Needham & Company LLC lifted their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Lake Street Capital raised their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Impinj has an average rating of “Moderate Buy” and an average price target of $224.60.

Impinj Company Profile

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.