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

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $204.75, for a total transaction of $2,047,500.00. Following the completion of the transaction, the chief operating officer now directly owns 60,041 shares in the company, valued at $12,293,394.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 shares were sold at an average price of $209.18, for a total value of $171,945.96.

Impinj Stock Performance

Shares of NASDAQ PI traded down $8.28 during mid-day trading on Wednesday, reaching $191.72. 477,074 shares of the company’s stock were exchanged, compared to its average volume of 471,197. The company’s 50-day moving average is $198.10 and its 200-day moving average is $170.72. Impinj, Inc. has a 52-week low of $59.64 and a 52-week high of $239.88. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of -547.77 and a beta of 1.80.

Impinj (NASDAQ:PI) last issued its earnings results 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. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. During the same quarter last year, the company earned ($0.36) EPS. The business’s quarterly revenue was up 46.5% on a year-over-year basis. As a group, equities analysts predict that Impinj, Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on PI shares. Lake Street Capital increased their price objective on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group raised their price target on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Finally, Needham & Company LLC upped their price target on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Institutional Trading of Impinj

Several hedge funds have recently modified their holdings of PI. Assenagon Asset Management S.A. purchased a new stake in Impinj during the second quarter valued at about $103,252,000. Jennison Associates LLC bought a new position in Impinj in the 1st quarter worth approximately $25,747,000. Renaissance Technologies LLC bought a new position in Impinj in the 2nd quarter worth approximately $30,116,000. TimesSquare Capital Management LLC bought a new position in Impinj in the 1st quarter worth approximately $19,195,000. Finally, Lord Abbett & CO. LLC bought a new position in Impinj during the 1st quarter valued at $9,659,000.

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.