Hussein Mecklai Sells 826 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 826 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.07, for a total transaction of $120,653.82. Following the completion of the sale, the chief operating officer now directly owns 60,830 shares in the company, valued at approximately $8,885,438.10. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 transaction of $2,047,500.00.
• On Monday, October 14th, Hussein Mecklai sold 427 shares of Impinj stock. The stock was sold at an average price of $237.75, for a total transaction of $101,519.25.

Impinj Stock Up 0.0 %

Shares of NASDAQ:PI opened at $147.85 on Friday. The company has a 50-day moving average price of $180.59 and a 200 day moving average price of $176.83. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88. The company has a market cap of $4.18 billion, a P/E ratio of 166.12 and a beta of 1.80.

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

Institutional Investors Weigh In On Impinj

Institutional investors and hedge funds have recently made changes to their positions in the business. National Bank of Canada FI purchased a new stake in Impinj in the 3rd quarter valued at approximately $30,000. Farther Finance Advisors LLC increased its position in Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Impinj during the 3rd quarter worth about $54,000. SouthState Corp acquired a new position in Impinj in the 2nd quarter valued at about $94,000. Finally, nVerses Capital LLC lifted its holdings in Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after purchasing an additional 300 shares in the last quarter.

Wall Street Analyst Weigh In

PI has been the subject of a number of recent analyst reports. Susquehanna lifted their price target on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday, October 21st. The Goldman Sachs Group boosted their target price on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. 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 research report on Thursday, October 24th. Finally, Cantor Fitzgerald boosted their price target on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.