Impinj, Inc. (NASDAQ:PI) COO Sells $120,653.82 in Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 826 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.07, for a total value of $120,653.82. Following the sale, the chief operating officer now owns 60,830 shares in the company, valued at approximately $8,885,438.10. The trade was a 1.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, October 28th, Hussein Mecklai sold 10,000 shares of Impinj stock. The stock was 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 Trading Up 0.0 %

Shares of PI opened at $147.85 on Friday. The firm has a market cap of $4.18 billion, a P/E ratio of 166.12 and a beta of 1.80. Impinj, Inc. has a 12 month low of $78.17 and a 12 month high of $239.88. The stock’s 50 day moving average is $180.59 and its two-hundred day moving average is $177.03.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $95.20 million for 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%. The firm’s revenue for the quarter was up 46.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.36) EPS. Equities research analysts forecast that Impinj, Inc. will post 0.4 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on PI shares. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. The Goldman Sachs Group upped their price target on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Susquehanna lifted their price objective on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. Needham & Company LLC upped their target price on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Piper Sandler reiterated an “overweight” rating and set a $235.00 price target (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Institutional Trading of Impinj

Several institutional investors have recently modified their holdings of PI. Principal Financial Group Inc. raised its position in shares of Impinj by 4,013.7% during the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after purchasing an additional 122,579 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Impinj during the third quarter valued at approximately $1,749,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Impinj in the third quarter valued at approximately $846,000. Geode Capital Management LLC boosted its stake in shares of Impinj by 1.4% in the third quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock worth $117,576,000 after acquiring an additional 7,676 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Impinj during the third quarter worth approximately $30,000.

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.