Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai Sells 427 Shares

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 427 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.75, for a total value of $101,519.25. Following the transaction, the chief operating officer now owns 60,041 shares of the company’s stock, valued at approximately $14,274,747.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• 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 Up 0.2 %

Shares of NASDAQ:PI opened at $233.63 on Thursday. The company’s fifty day moving average is $187.78 and its two-hundred day moving average is $164.72. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $239.88. The company has a market cap of $6.47 billion, a P/E ratio of -667.51 and a beta of 1.80.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $97.47 million. During the same period in the previous year, the company posted ($0.14) EPS. Impinj’s revenue was up 19.2% on a year-over-year basis. Equities research analysts anticipate that Impinj, Inc. will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On Impinj

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Impinj during the 1st quarter worth $513,000. TimesSquare Capital Management LLC acquired a new position in Impinj in the first quarter worth about $19,195,000. Harbor Capital Advisors Inc. raised its position in Impinj by 112.0% in the second quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock worth $2,122,000 after purchasing an additional 7,151 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Impinj by 13.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock worth $7,990,000 after purchasing an additional 7,247 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Impinj by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after purchasing an additional 35,893 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently commented on PI. Lake Street Capital boosted their target price on Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Piper Sandler reissued an “overweight” rating and set a $225.00 target price (up previously from $180.00) on shares of Impinj in a report on Friday, September 27th. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and set a $195.00 target price on shares of Impinj in a report on Thursday, July 25th. Finally, Roth Mkm upped their price target on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Impinj presently has an average rating of “Moderate Buy” and a consensus price target of $191.60.

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.