Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai Sells 3,739 Shares

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 3,739 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.81, for a total transaction of $369,450.59. Following the transaction, the chief operating officer now directly owns 70,347 shares of the company’s stock, valued at approximately $6,950,987.07. This represents a 5.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, January 13th, Hussein Mecklai sold 338 shares of Impinj stock. The stock was sold at an average price of $141.02, for a total value 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 value of $120,653.82.

Impinj Stock Down 2.2 %

Shares of PI opened at $94.62 on Tuesday. The company has a 50-day moving average price of $131.02 and a two-hundred day moving average price of $168.64. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 69.57 and a beta of 1.88. Impinj, Inc. has a 12 month low of $93.54 and a 12 month high of $239.88.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. Equities research analysts expect that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Impinj

Several institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning lifted its holdings in Impinj by 23.4% during the 3rd quarter. Creative Planning now owns 12,046 shares of the company’s stock valued at $2,608,000 after purchasing an additional 2,287 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Impinj by 21.7% during the third quarter. Raymond James & Associates now owns 22,951 shares of the company’s stock worth $4,969,000 after buying an additional 4,090 shares in the last quarter. Highland Capital Management LLC bought a new position in shares of Impinj in the third quarter valued at approximately $222,000. Louisiana State Employees Retirement System acquired a new position in shares of Impinj in the 3rd quarter worth approximately $2,382,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Impinj by 157.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,278 shares of the company’s stock worth $2,009,000 after acquiring an additional 5,669 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PI. Needham & Company LLC cut their price target on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 6th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Cantor Fitzgerald decreased their price target on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Piper Sandler dropped their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.10.

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.