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

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 427 shares of Impinj stock in a transaction on Monday, October 14th. The shares were 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 in the company, valued at approximately $14,274,747.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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 Price Performance

NASDAQ:PI opened at $233.25 on Wednesday. The stock’s 50-day moving average is $185.88 and its two-hundred day moving average is $164.23. The stock has a market cap of $6.46 billion, a PE ratio of -666.43 and a beta of 1.80. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. The firm had revenue of $102.50 million for the quarter, compared to analyst estimates of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) EPS. On average, equities research analysts anticipate that Impinj, Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on PI. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $205.00 target price on shares of Impinj in a research report on Thursday, July 25th. Lake Street Capital increased their price target on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Roth Mkm lifted their price target on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Susquehanna upped their price objective on shares of Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

Institutional Trading of Impinj

Several hedge funds and other institutional investors have recently modified their holdings of PI. Future Financial Wealth Managment LLC bought a new position in Impinj during the first quarter valued at approximately $32,000. SouthState Corp acquired a new position in shares of Impinj during the 2nd quarter worth $94,000. nVerses Capital LLC raised its holdings in shares of Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after purchasing an additional 300 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Impinj by 117.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after purchasing an additional 521 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its holdings in Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after purchasing an additional 549 shares in the last quarter.

Impinj Company Profile

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.