Insider Selling: Impinj, Inc. (NASDAQ:PI) COO Sells $122,934.14 in Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 833 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $147.58, for a total transaction of $122,934.14. Following the completion of the transaction, the chief operating officer now directly owns 57,427 shares of the company’s stock, valued at approximately $8,475,076.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, June 17th, Hussein Mecklai sold 495 shares of Impinj stock. The stock was sold at an average price of $149.90, for a total transaction of $74,200.50.
• On Wednesday, May 1st, Hussein Mecklai sold 5,000 shares of Impinj stock. The shares were sold at an average price of $154.38, for a total value of $771,900.00.
• On Monday, April 15th, Hussein Mecklai sold 435 shares of Impinj stock. The shares were sold at an average price of $118.75, for a total value of $51,656.25.

Impinj Stock Performance

Shares of PI opened at $153.40 on Friday. 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, Inc. has a 52 week low of $48.39 and a 52 week high of $175.41. The firm’s 50-day simple moving average is $156.12 and its 200 day simple moving average is $122.49.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. The company had revenue of $76.83 million during the quarter, compared to analysts’ expectations of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. Sell-side analysts forecast that Impinj, Inc. will post 0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new position in shares of Impinj during the first quarter worth approximately $32,000. GAMMA Investing LLC bought a new position in Impinj during the 4th quarter worth $40,000. Headlands Technologies LLC acquired a new position in Impinj in the 4th quarter valued at $58,000. Whittier Trust Co. acquired a new stake in shares of Impinj during the 4th quarter worth $90,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Impinj by 117.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after purchasing an additional 521 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PI. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price objective on shares of Impinj in a report on Wednesday, June 5th. Jefferies Financial Group assumed coverage on shares of Impinj in a research note on Monday, May 13th. They issued a “buy” rating and a $200.00 price target for the company. Piper Sandler restated an “overweight” rating and set a $150.00 price objective (up from $130.00) on shares of Impinj in a research note on Thursday, April 25th. The Goldman Sachs Group downgraded shares of Impinj from a “buy” rating to a “neutral” rating and set a $156.00 target price for the company. in a research note on Monday, May 20th. Finally, StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $154.00.

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.