Insider Selling: Impinj, Inc. (NASDAQ:PI) COO Sells $801,000.00 in Stock

Impinj, Inc. (NASDAQ:PIGet Rating) COO Hussein Mecklai sold 9,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $89.00, for a total transaction of $801,000.00. Following the completion of the sale, the chief operating officer now owns 31,004 shares in the company, valued at approximately $2,759,356. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Monday, August 1st, Hussein Mecklai sold 871 shares of Impinj stock. The stock was sold at an average price of $83.18, for a total transaction of $72,449.78.
  • On Thursday, July 28th, Hussein Mecklai sold 17,375 shares of Impinj stock. The stock was sold at an average price of $82.19, for a total transaction of $1,428,051.25.
  • On Wednesday, July 13th, Hussein Mecklai sold 435 shares of Impinj stock. The shares were sold at an average price of $64.46, for a total transaction of $28,040.10.
  • On Thursday, June 16th, Hussein Mecklai sold 519 shares of Impinj stock. The shares were sold at an average price of $47.98, for a total transaction of $24,901.62.

Impinj Price Performance

NASDAQ:PI opened at $95.17 on Friday. Impinj, Inc. has a 1-year low of $39.74 and a 1-year high of $96.95. The company has a 50-day moving average of $62.18 and a 200 day moving average of $61.13. The firm has a market cap of $2.44 billion, a PE ratio of -43.06 and a beta of 2.24.

Impinj (NASDAQ:PIGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.13. Impinj had a negative net margin of 26.07% and a negative return on equity of 236.49%. The company had revenue of $59.80 million during the quarter, compared to analyst estimates of $55.12 million. During the same period in the prior year, the firm earned ($0.33) earnings per share. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. Sell-side analysts anticipate that Impinj, Inc. will post -0.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PI. The Goldman Sachs Group boosted their price objective on shares of Impinj from $78.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Needham & Company LLC boosted their price objective on shares of Impinj from $96.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Piper Sandler boosted their price objective on shares of Impinj from $80.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Lake Street Capital boosted their price objective on shares of Impinj from $87.00 to $94.00 in a research report on Thursday, July 28th. Finally, Roth Capital lowered their target price on shares of Impinj from $95.00 to $76.00 in a research note on Thursday, April 28th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.80.

Institutional Trading of Impinj

A number of hedge funds have recently added to or reduced their stakes in PI. Russell Investments Group Ltd. purchased a new stake in Impinj in the fourth quarter worth about $2,543,000. Strs Ohio purchased a new stake in shares of Impinj during the fourth quarter valued at about $266,000. Brown Advisory Inc. purchased a new stake in shares of Impinj during the fourth quarter valued at about $670,000. Calamos Advisors LLC purchased a new stake in shares of Impinj during the fourth quarter valued at about $3,790,000. Finally, Advisor Group Holdings Inc. lifted its position in shares of Impinj by 127.2% during the fourth quarter. Advisor Group Holdings Inc. now owns 16,832 shares of the company’s stock valued at $1,493,000 after buying an additional 9,422 shares during the last quarter. 88.00% of the stock is owned by hedge funds and other institutional investors.

Impinj Company Profile

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Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

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Insider Buying and Selling by Quarter for Impinj (NASDAQ:PI)

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