Impinj, Inc. (NASDAQ:PI) COO Sells $369,450.59 in Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 3,739 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.81, for a total transaction of $369,450.59. Following the sale, the chief operating officer now directly owns 70,347 shares in the company, valued at approximately $6,950,987.07. The trade was a 5.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, January 13th, Hussein Mecklai sold 338 shares of Impinj stock. The shares were sold at an average price of $141.02, for a total transaction of $47,664.76.
• 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.

Impinj Price Performance

Shares of NASDAQ PI opened at $96.28 on Thursday. The company has a 50-day simple moving average of $129.92 and a 200-day simple moving average of $168.24. The company has a market cap of $2.75 billion, a PE ratio of 70.79 and a beta of 1.88. Impinj, Inc. has a 12 month low of $91.99 and a 12 month high of $239.88.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PI shares. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Needham & Company LLC cut their price target on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Piper Sandler decreased their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Susquehanna lowered their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Finally, The Goldman Sachs Group lowered their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.10.

Hedge Funds Weigh In On Impinj

Several institutional investors have recently added to or reduced their stakes in PI. Canada Pension Plan Investment Board purchased a new stake in Impinj in the fourth quarter valued at approximately $29,000. National Bank of Canada FI acquired a new position in shares of Impinj in the 3rd quarter valued at $30,000. Farther Finance Advisors LLC boosted its holdings in shares of Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Impinj during the 4th quarter valued at $33,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Impinj by 205.9% during the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after buying an additional 175 shares during 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.