Insider Selling: Impinj, Inc. (NASDAQ:PI) COO Sells 416 Shares of Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 416 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $175.43, for a total transaction of $72,978.88. Following the completion of the sale, the chief operating officer now owns 58,104 shares of the company’s stock, valued at approximately $10,193,184.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, June 24th, Hussein Mecklai sold 833 shares of Impinj stock. The shares were sold at an average price of $147.58, for a total transaction of $122,934.14.
• On Monday, June 17th, Hussein Mecklai sold 495 shares of Impinj stock. The shares were 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 transaction of $771,900.00.

Impinj Price Performance

Shares of Impinj stock traded up $3.70 on Tuesday, reaching $179.81. The stock had a trading volume of 363,081 shares, compared to its average volume of 420,174. Impinj, Inc. has a 1 year low of $48.39 and a 1 year high of $179.95. The company has a market cap of $4.98 billion, a P/E ratio of -513.74 and a beta of 1.78. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29. The business’s 50 day moving average is $160.60 and its two-hundred day moving average is $129.98.

Impinj (NASDAQ:PI) last announced its quarterly earnings results 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 firm had revenue of $76.83 million for the quarter, compared to the consensus estimate of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. As a group, research analysts anticipate that Impinj, Inc. will post 0.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PI. Jefferies Financial Group began coverage on shares of Impinj in a research report on Monday, May 13th. They set a “buy” rating and a $200.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Impinj in a research report on Wednesday, June 5th. Roth Mkm increased their price target on shares of Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Evercore ISI assumed coverage on shares of Impinj in a research report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price target for the company. Finally, Piper Sandler increased their target price on shares of Impinj from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Impinj presently has an average rating of “Moderate Buy” and an average price target of $157.33.

Institutional Investors Weigh In On Impinj

A number of institutional investors and hedge funds have recently bought and sold shares of PI. Capital International Investors purchased a new stake in Impinj in the fourth quarter valued at approximately $68,211,000. Jennison Associates LLC purchased a new position in shares of Impinj during the first quarter worth approximately $25,747,000. TimesSquare Capital Management LLC purchased a new position in shares of Impinj during the first quarter worth approximately $19,195,000. Lord Abbett & CO. LLC purchased a new position in shares of Impinj during the first quarter worth approximately $9,659,000. Finally, Lisanti Capital Growth LLC purchased a new position in shares of Impinj during the fourth quarter worth approximately $5,739,000.

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.