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

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 338 shares of Impinj stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $141.02, for a total value of $47,664.76. Following the completion of the sale, the chief operating officer now directly owns 61,586 shares in the company, valued at $8,684,857.72. This represents a 0.55 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 stock was 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 Price Performance

PI stock opened at $149.31 on Wednesday. Impinj, Inc. has a 12 month low of $78.17 and a 12 month high of $239.88. The firm has a market capitalization of $4.22 billion, a PE ratio of 167.76 and a beta of 1.88. The company’s 50 day simple moving average is $167.35 and its 200-day simple moving average is $176.99.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. During the same quarter in the prior year, the firm earned ($0.36) EPS. Impinj’s quarterly revenue was up 46.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

Institutional Trading of Impinj

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI acquired a new position in Impinj in the 3rd quarter valued at $30,000. Farther Finance Advisors LLC grew its position in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Impinj in the third quarter valued at $54,000. Asset Management One Co. Ltd. acquired a new position in Impinj in the third quarter valued at $138,000. Finally, USA Financial Formulas lifted its position 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 buying an additional 296 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Evercore ISI reissued an “outperform” rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Susquehanna raised their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. Piper Sandler reissued an “overweight” rating and set a $235.00 price objective (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Lake Street Capital increased their target price on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Needham & Company LLC lifted their price target on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $224.60.

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.