Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai Sells 9,000 Shares

Impinj, Inc. (NASDAQ:PIGet Rating) COO Hussein Mecklai sold 9,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $89.00, for a total value of $801,000.00. Following the sale, the chief operating officer now directly owns 31,004 shares of the company’s stock, valued at $2,759,356. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

  • On Monday, August 1st, Hussein Mecklai sold 871 shares of Impinj stock. The stock was sold at an average price of $83.18, for a total value of $72,449.78.
  • On Thursday, July 28th, Hussein Mecklai sold 17,375 shares of Impinj stock. The stock was sold at an average price of $82.19, for a total value of $1,428,051.25.
  • On Wednesday, July 13th, Hussein Mecklai sold 435 shares of Impinj stock. The stock was sold at an average price of $64.46, for a total value of $28,040.10.
  • On Thursday, June 16th, Hussein Mecklai sold 519 shares of Impinj stock. The stock was sold at an average price of $47.98, for a total value of $24,901.62.

Impinj Trading Up 3.1 %

NASDAQ PI opened at $95.02 on Friday. The company has a market cap of $2.43 billion, a PE ratio of -43.00 and a beta of 2.24. Impinj, Inc. has a 12 month low of $39.74 and a 12 month high of $95.93. The stock has a 50 day moving average of $61.23 and a 200-day moving average of $61.06.

Impinj (NASDAQ:PIGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.13. Impinj had a negative return on equity of 236.49% and a negative net margin of 26.07%. The business had revenue of $59.80 million for the quarter, compared to analysts’ expectations of $55.12 million. During the same quarter in the prior year, the business earned ($0.33) EPS. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. As a group, sell-side analysts predict that Impinj, Inc. will post -0.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PI shares. Needham & Company LLC upped their price target on Impinj from $96.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Piper Sandler upped their price target on Impinj from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Roth Capital reduced their price target on Impinj from $95.00 to $76.00 in a research report on Thursday, April 28th. Lake Street Capital upped their price target on Impinj from $87.00 to $94.00 in a research report on Thursday, July 28th. Finally, The Goldman Sachs Group upped their price target on Impinj from $78.00 to $89.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.80.

Institutional Investors Weigh In On Impinj

Large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. bought a new position in Impinj during the 1st quarter worth $39,000. Quantbot Technologies LP bought a new position in Impinj during the 1st quarter worth $101,000. Benjamin F. Edwards & Company Inc. increased its position in Impinj by 49.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,171 shares of the company’s stock worth $138,000 after buying an additional 722 shares during the period. Asset Management One Co. Ltd. bought a new position in Impinj during the 2nd quarter worth $151,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Impinj by 35.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,434 shares of the company’s stock worth $155,000 after buying an additional 643 shares during the period. Institutional investors own 88.00% of the company’s stock.

Impinj Company Profile

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Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

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Insider Buying and Selling by Quarter for Impinj (NASDAQ:PI)

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