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

Impinj, Inc. (NASDAQ:PI - Get Free Report) COO Hussein Mecklai sold 3,739 shares of Impinj stock in a transaction on Friday, February 21st. The shares were 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 of the company's stock, valued at $6,950,987.07. This trade represents a 5.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Trading Down 2.5 %

PI stock traded down $2.39 during mid-day trading on Thursday, hitting $93.90. 133,457 shares of the company were exchanged, compared to its average volume of 730,198. Impinj, Inc. has a 1-year low of $91.99 and a 1-year high of $239.88. The business has a 50 day simple moving average of $129.01 and a 200-day simple moving average of $167.74. The stock has a market capitalization of $2.68 billion, a PE ratio of 69.18 and a beta of 1.88.

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Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. Equities research analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On Impinj

Several hedge funds have recently bought and sold shares of PI. Hillsdale Investment Management Inc. increased its stake in shares of Impinj by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company's stock valued at $3,586,000 after purchasing an additional 95 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Impinj by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock worth $1,612,000 after purchasing an additional 100 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Impinj by 6.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company's stock valued at $238,000 after acquiring an additional 106 shares in the last quarter. National Bank of Canada FI bought a new position in shares of Impinj during the 3rd quarter worth about $30,000. Finally, Farther Finance Advisors LLC raised its position in shares of Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock worth $33,000 after purchasing an additional 141 shares during the period.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. The Goldman Sachs Group dropped their price objective on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research note on Thursday, February 6th. Needham & Company LLC lowered their price target on shares of Impinj from $182.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Piper Sandler reduced their price objective on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Finally, Cantor Fitzgerald cut their price target on shares of Impinj from $260.00 to $133.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $180.10.

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.