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 dated Friday, February 21st. The stock was sold at an average price of $98.81, for a total value of $369,450.59. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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 Trading Down 2.2 %

Shares of Impinj stock traded down $2.13 during trading hours on Monday, hitting $94.62. 543,084 shares of the company were exchanged, compared to its average volume of 766,156. The business has a 50-day moving average of $132.13 and a 200-day moving average of $169.02. Impinj, Inc. has a 1 year low of $93.54 and a 1 year high of $239.88. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 69.57 and a beta of 1.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates 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, research analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Impinj

Hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its holdings in Impinj by 330.9% during the fourth quarter. Mackenzie Financial Corp now owns 6,317 shares of the company’s stock worth $918,000 after acquiring an additional 4,851 shares during the period. Sylebra Capital LLC boosted its position in shares of Impinj by 8.6% during the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company’s stock worth $504,360,000 after purchasing an additional 274,764 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Impinj by 32.9% during the 4th quarter. Squarepoint Ops LLC now owns 310,743 shares of the company’s stock worth $45,139,000 after purchasing an additional 76,886 shares during the period. Twinbeech Capital LP purchased a new position in shares of Impinj in the 4th quarter valued at about $2,693,000. Finally, Tidal Investments LLC purchased a new position in shares of Impinj in the 4th quarter valued at about $12,921,000.

Analyst Ratings Changes

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

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.