Insider Selling: Impinj, Inc. (NASDAQ:PI) COO Sells $771,900.00 in Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $154.38, for a total value of $771,900.00. Following the completion of the transaction, the chief operating officer now directly owns 55,414 shares of the company’s stock, valued at $8,554,813.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, April 15th, Hussein Mecklai sold 435 shares of Impinj stock. The stock was sold at an average price of $118.75, for a total value of $51,656.25.
• On Monday, March 25th, Hussein Mecklai sold 1,456 shares of Impinj stock. The stock was sold at an average price of $126.83, for a total value of $184,664.48.
• On Monday, March 18th, Hussein Mecklai sold 489 shares of Impinj stock. The stock was sold at an average price of $124.38, for a total value of $60,821.82.
• On Friday, February 23rd, Hussein Mecklai sold 7,217 shares of Impinj stock. The stock was sold at an average price of $101.15, for a total value of $729,999.55.
• On Monday, February 12th, Hussein Mecklai sold 30,000 shares of Impinj stock. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00.

Impinj Stock Up 0.9 %

Shares of NASDAQ:PI opened at $161.23 on Friday. The stock’s 50-day moving average price is $124.94 and its 200-day moving average price is $98.96. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $163.45. The stock has a market capitalization of $4.47 billion, a P/E ratio of -460.66 and a beta of 1.85. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The firm had revenue of $76.83 million for the quarter, compared to analysts’ expectations of $73.57 million. On average, equities analysts anticipate that Impinj, Inc. will post -0.62 earnings per share for the current year.

Analysts Set New Price Targets

PI has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $150.00 price objective (up previously from $130.00) on shares of Impinj in a research report on Thursday, April 25th. Roth Mkm increased their price objective on Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Evercore ISI started coverage on Impinj in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 price objective on the stock. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Canaccord Genuity Group raised their price target on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.89.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC grew its stake in shares of Impinj by 0.8% in the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock worth $221,710,000 after purchasing an additional 31,289 shares during the last quarter. Sylebra Capital LLC bought a new stake in shares of Impinj in the third quarter worth about $217,290,000. Westfield Capital Management Co. LP boosted its position in Impinj by 40.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after acquiring an additional 292,470 shares in the last quarter. Fred Alger Management LLC boosted its position in Impinj by 249.6% during the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after acquiring an additional 568,301 shares in the last quarter. Finally, Capital International Investors bought a new stake in Impinj during the 4th quarter valued at approximately $68,211,000.

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.