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

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 338 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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 Price Performance

PI stock opened at $132.51 on Friday. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 148.89 and a beta of 1.88. The company has a 50-day moving average of $164.71 and a two-hundred day moving average of $176.40. Impinj, Inc. has a 52-week low of $87.15 and a 52-week high of $239.88.

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

Hedge Funds Weigh In On Impinj

Large investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC raised its position in shares of Impinj by 210.2% during the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock valued at $1,855,000 after buying an additional 5,807 shares during the last quarter. Nordea Investment Management AB bought a new position in Impinj during the fourth quarter worth about $3,341,000. Thrivent Financial for Lutherans bought a new position in shares of Impinj during the 3rd quarter worth approximately $3,872,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Impinj during the third quarter valued at $846,000. Finally, Principal Financial Group Inc. boosted its stake in Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after purchasing an additional 122,579 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PI shares. Evercore ISI reissued an “outperform” rating and set a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a report on Thursday. Needham & Company LLC raised their price objective 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. Cantor Fitzgerald boosted their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Piper Sandler restated an “overweight” rating and set a $235.00 price target (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.