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

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 826 shares of the company’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 value of $120,653.82. Following the completion of the sale, the chief operating officer now owns 60,830 shares in the company, valued at $8,885,438.10. This represents a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 value 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 Price Performance

Shares of NASDAQ PI opened at $147.78 on Friday. The stock has a market capitalization of $4.18 billion, a PE ratio of 166.04 and a beta of 1.80. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week 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 posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The business 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%. Impinj’s revenue was up 46.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.36) earnings per share. On average, equities analysts expect that Impinj, Inc. will post 0.4 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Cantor Fitzgerald boosted their price objective on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. The Goldman Sachs Group increased 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. Needham & Company LLC boosted their price target on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Susquehanna upped their price objective on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Institutional Trading of Impinj

Several large investors have recently made changes to their positions in the company. National Bank of Canada FI bought a new stake in Impinj during the third quarter worth $30,000. Farther Finance Advisors LLC lifted its position in shares of 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 buying an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Impinj in the third quarter valued at about $54,000. SouthState Corp acquired a new stake in Impinj in the second quarter valued at about $94,000. Finally, nVerses Capital LLC grew its position in Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after acquiring an additional 300 shares during 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.