Impinj, Inc. (NASDAQ:PI) COO Sells $2,047,500.00 in Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $204.75, for a total transaction of $2,047,500.00. Following the completion of the sale, the chief operating officer now directly owns 60,041 shares in the company, valued at $12,293,394.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, October 14th, Hussein Mecklai sold 427 shares of Impinj stock. The shares were sold at an average price of $237.75, for a total transaction of $101,519.25.
• 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 transaction of $171,945.96.

Impinj Stock Up 2.5 %

Shares of PI stock opened at $194.71 on Friday. The stock has a fifty day moving average of $199.89 and a 200 day moving average of $171.53. Impinj, Inc. has a 52 week low of $62.84 and a 52 week high of $239.88. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 218.78 and a beta of 1.80.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm’s revenue was up 46.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.36) earnings per share. Equities research analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on PI. Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 target price (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Needham & Company LLC increased their price target on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Susquehanna increased their price target on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. The Goldman Sachs Group raised their target price on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Hedge Funds Weigh In On Impinj

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Impinj during the first quarter valued at $513,000. TimesSquare Capital Management LLC bought a new position in Impinj in the 1st quarter worth about $19,195,000. Harbor Capital Advisors Inc. boosted its stake in Impinj by 112.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock worth $2,122,000 after purchasing an additional 7,151 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Impinj by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock worth $7,990,000 after purchasing an additional 7,247 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Impinj by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after purchasing an additional 35,893 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.