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

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 826 shares of the stock in a transaction 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 transaction, the chief operating officer now directly owns 60,830 shares in the company, valued at $8,885,438.10. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $101,519.25.

Impinj Trading Down 0.7 %

Shares of Impinj stock traded down $0.98 on Thursday, reaching $147.78. 309,536 shares of the stock were exchanged, compared to its average volume of 482,156. The firm has a market capitalization of $4.18 billion, a PE ratio of 166.04 and a beta of 1.80. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88. The business has a fifty day moving average price of $183.64 and a two-hundred day moving average price of $177.04.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PI shares. Lake Street Capital upped their target price on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Needham & Company LLC raised their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Susquehanna upped their price target on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. Cantor Fitzgerald raised their price objective 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 reaffirmed an “overweight” rating and issued a $235.00 target price (up from $225.00) on shares of Impinj in a 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 a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Institutional Investors Weigh In On Impinj

Several institutional investors have recently made changes to their positions in the stock. Raymond James & Associates lifted its position in shares of Impinj by 30.2% during the 2nd quarter. Raymond James & Associates now owns 18,861 shares of the company’s stock valued at $2,957,000 after acquiring an additional 4,373 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Impinj by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 121,159 shares of the company’s stock worth $18,994,000 after buying an additional 7,496 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Impinj by 79.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 66,361 shares of the company’s stock worth $10,403,000 after buying an additional 29,299 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new stake in Impinj in the 2nd quarter valued at about $275,000. Finally, nVerses Capital LLC increased its holdings in Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after acquiring an additional 300 shares in the last quarter.

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.