Hussein Mecklai Sells 826 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 826 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.07, for a total transaction of $120,653.82. Following the completion of the sale, the chief operating officer now owns 60,830 shares of the company’s stock, 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 through 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 shares were 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 value of $101,519.25.

Impinj Stock Up 0.0 %

NASDAQ:PI opened at $147.85 on Friday. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88. The stock’s fifty day moving average is $180.59 and its two-hundred day moving average is $177.03. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 166.12 and a beta of 1.80.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. The firm 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%. Impinj’s revenue was up 46.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.36) EPS. On average, sell-side analysts expect that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. National Bank of Canada FI acquired a new position in Impinj during the 3rd quarter worth $30,000. Farther Finance Advisors LLC grew its position in shares of 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 purchased a new stake in shares of Impinj during the third quarter worth approximately $54,000. SouthState Corp acquired a new stake in Impinj in the second quarter valued at approximately $94,000. Finally, Asset Management One Co. Ltd. purchased a new position in Impinj in the third quarter worth approximately $138,000.

Analysts Set New Price Targets

PI has been the subject of a number of recent research reports. Susquehanna raised their target price on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Cantor Fitzgerald lifted their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group increased their price target on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Needham & Company LLC lifted their price target on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.