Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai Sells 10,000 Shares of Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 10,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $204.75, for a total value of $2,047,500.00. Following the sale, the chief operating officer now owns 60,041 shares of the company’s stock, valued at approximately $12,293,394.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• 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.
• On Tuesday, September 24th, Hussein Mecklai sold 822 shares of Impinj stock. The stock was sold at an average price of $209.18, for a total value of $171,945.96.

Impinj Stock Performance

Impinj stock opened at $191.72 on Thursday. The business’s 50-day simple moving average is $198.64 and its 200-day simple moving average is $170.87. The firm has a market capitalization of $5.31 billion, a PE ratio of -547.77 and a beta of 1.80. Impinj, Inc. has a 52 week low of $59.64 and a 52 week high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm’s revenue for the quarter was up 46.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.36) earnings per share. Research analysts forecast that Impinj, Inc. will post 0.35 earnings per share for the current year.

Hedge Funds Weigh In On Impinj

Institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its position in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after buying an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Impinj during the third quarter worth about $54,000. SouthState Corp acquired a new stake in Impinj during the second quarter worth about $94,000. nVerses Capital LLC grew its position in Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after buying an additional 300 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. grew its position in Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after buying an additional 549 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PI shares. Needham & Company LLC increased their price objective on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group increased their price objective on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Evercore ISI reiterated an “outperform” rating and set a $270.00 price objective (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Piper Sandler restated an “overweight” rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. Finally, StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

About Impinj

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.