Impinj, Inc. (NASDAQ:PI) COO Sells $47,664.76 in Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 338 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $141.02, for a total transaction of $47,664.76. Following the transaction, the chief operating officer now directly owns 61,586 shares in the company, valued at approximately $8,684,857.72. This represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, December 24th, Hussein Mecklai sold 826 shares of Impinj stock. The shares were sold at an average price of $146.07, for a total transaction of $120,653.82.
• On Monday, October 28th, Hussein Mecklai sold 10,000 shares of Impinj stock. The stock was sold at an average price of $204.75, for a total value of $2,047,500.00.

Impinj Trading Up 2.0 %

NASDAQ PI opened at $149.31 on Wednesday. The stock has a market cap of $4.22 billion, a P/E ratio of 167.76 and a beta of 1.88. The company’s fifty day simple moving average is $167.35 and its 200-day simple moving average is $176.99. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm’s revenue was up 46.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.36) EPS. On average, research analysts expect that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. First Bank & Trust increased its holdings in Impinj by 3.2% during the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after purchasing an additional 55 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Impinj during the third quarter worth approximately $30,000. Farther Finance Advisors LLC increased its stake in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after buying an additional 141 shares during the last quarter. KBC Group NV raised its holdings in Impinj by 29.7% in the third quarter. KBC Group NV now owns 681 shares of the company’s stock valued at $147,000 after acquiring an additional 156 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Impinj by 7.3% in the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after acquiring an additional 190 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PI shares. The Goldman Sachs Group upped their price target on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Piper Sandler reissued an “overweight” rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Needham & Company LLC raised their price target on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Cantor Fitzgerald boosted their price objective on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $224.60.

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.