Hussein Mecklai Sells 435 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 435 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $118.75, for a total value of $51,656.25. Following the transaction, the chief operating officer now directly owns 55,414 shares in the company, valued at approximately $6,580,412.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, March 25th, Hussein Mecklai sold 1,456 shares of Impinj stock. The stock was sold at an average price of $126.83, for a total value of $184,664.48.
• On Monday, March 18th, Hussein Mecklai sold 489 shares of Impinj stock. The stock was sold at an average price of $124.38, for a total value of $60,821.82.
• On Friday, February 23rd, Hussein Mecklai sold 7,217 shares of Impinj stock. The stock was sold at an average price of $101.15, for a total value of $729,999.55.
• On Monday, February 12th, Hussein Mecklai sold 30,000 shares of Impinj stock. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00.

Impinj Trading Up 1.7 %

Shares of NASDAQ PI opened at $122.08 on Friday. The company has a debt-to-equity ratio of 8.26, a current ratio of 8.73 and a quick ratio of 5.59. The firm’s 50-day moving average price is $116.17 and its two-hundred day moving average price is $91.72. Impinj, Inc. has a 52-week low of $48.39 and a 52-week high of $142.70.

Impinj (NASDAQ:PI) last issued its earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The firm had revenue of $70.65 million for the quarter, compared to analysts’ expectations of $67.10 million. On average, research analysts predict that Impinj, Inc. will post -0.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Roth Mkm increased their price target on Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Canaccord Genuity Group increased their target price on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. The Goldman Sachs Group increased their target price on Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Evercore ISI assumed coverage on Impinj in a research report on Tuesday. They issued an “outperform” rating and a $160.00 target price on the stock. Finally, Susquehanna increased their target price on Impinj from $115.00 to $130.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and a consensus target price of $119.44.

Hedge Funds Weigh In On Impinj

A number of large investors have recently bought and sold shares of the business. Sylebra Capital LLC bought a new stake in shares of Impinj during the third quarter valued at approximately $217,290,000. Capital International Investors bought a new stake in shares of Impinj during the fourth quarter valued at approximately $68,211,000. Fred Alger Management LLC raised its holdings in shares of Impinj by 249.6% during the third quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after buying an additional 568,301 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Impinj by 40.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after buying an additional 292,470 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Impinj by 16.5% during the first quarter. Invesco Ltd. now owns 1,189,985 shares of the company’s stock valued at $75,610,000 after buying an additional 168,597 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.