Impinj, Inc. (NASDAQ:PI) COO Sells $120,653.82 in Stock

Impinj, Inc. (NASDAQ:PI - Get Free Report) COO Hussein Mecklai sold 826 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.07, for a total value of $120,653.82. Following the completion of the sale, the chief operating officer now owns 60,830 shares of the company's stock, valued at approximately $8,885,438.10. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 transaction of $2,047,500.00.
• On Monday, October 14th, Hussein Mecklai sold 427 shares of Impinj stock. The stock was sold at an average price of $237.75, for a total value of $101,519.25.

Impinj Price Performance

Shares of Impinj stock traded down $0.98 during trading on Thursday, hitting $147.78. 309,536 shares of the company's stock traded hands, compared to its average volume of 482,156. Impinj, Inc. has a twelve month low of $78.17 and a twelve month high of $239.88. The company has a market cap of $4.18 billion, a PE ratio of 166.04 and a beta of 1.80. The firm's fifty day moving average price is $183.64 and its 200 day moving average price is $177.04.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million for 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 company's revenue was up 46.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.36) EPS. As a group, equities research analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PI. Raymond James & Associates raised its stake in shares of Impinj by 30.2% in the second quarter. Raymond James & Associates now owns 18,861 shares of the company's stock valued at $2,957,000 after acquiring an additional 4,373 shares during the last quarter. Bank of New York Mellon Corp raised its position in Impinj by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 121,159 shares of the company's stock valued at $18,994,000 after purchasing an additional 7,496 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Impinj by 79.1% in the second quarter. Panagora Asset Management Inc. now owns 66,361 shares of the company's stock worth $10,403,000 after purchasing an additional 29,299 shares in the last quarter. Azzad Asset Management Inc. ADV bought a new stake in shares of Impinj during the second quarter worth $275,000. Finally, nVerses Capital LLC increased its stake in shares of Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company's stock valued at $110,000 after buying an additional 300 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on PI. Lake Street Capital lifted their price target on Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Susquehanna boosted their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a "positive" rating in a research report on Monday, October 21st. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. Needham & Company LLC raised their price target on shares of Impinj from $195.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Impinj has a consensus rating of "Moderate Buy" and a consensus price target of $224.60.

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.