Impinj, Inc. (NASDAQ:PI) COO Sells $171,945.96 in Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 822 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.18, for a total transaction of $171,945.96. Following the sale, the chief operating officer now owns 59,374 shares in the company, valued at $12,419,853.32. The sale was disclosed in a 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 stock was sold at an average price of $175.43, for a total value of $72,978.88.

Impinj Price Performance

PI stock opened at $213.31 on Friday. Impinj, Inc. has a 12 month low of $48.39 and a 12 month high of $220.17. The firm’s 50-day moving average is $168.51 and its 200 day moving average is $154.71. The company has a market capitalization of $5.91 billion, a PE ratio of -609.46 and a beta of 1.78.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $205.00 price target on shares of Impinj in a research report on Thursday, July 25th. Roth Mkm boosted their price objective on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Lake Street Capital increased their target price on shares of Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Susquehanna lifted their price target on shares of Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Impinj currently has a consensus rating of “Moderate Buy” and an average price target of $191.60.

Institutional Investors Weigh In On Impinj

A number of institutional investors and hedge funds have recently bought and sold shares of PI. Capital International Investors purchased a new stake in shares of Impinj in the 4th quarter worth approximately $68,211,000. Assenagon Asset Management S.A. purchased a new stake in Impinj during the second quarter worth $103,252,000. Jennison Associates LLC purchased a new stake in Impinj during the first quarter worth $25,747,000. Renaissance Technologies LLC bought a new stake in Impinj during the 2nd quarter valued at $30,116,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Impinj in the 1st quarter valued at $19,195,000.

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.