Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai Sells 4,801 Shares

Impinj, Inc. (NASDAQ:PI – Get Rating) COO Hussein Mecklai sold 4,801 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $127.70, for a total transaction of $613,087.70. Following the sale, the chief operating officer now directly owns 27,425 shares of the company’s stock, valued at approximately $3,502,172.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, February 14th, Hussein Mecklai sold 1,041 shares of Impinj stock. The shares were sold at an average price of $130.00, for a total transaction of $135,330.00.
• On Friday, February 10th, Hussein Mecklai sold 4,147 shares of Impinj stock. The shares were sold at an average price of $123.42, for a total transaction of $511,822.74.
• On Wednesday, February 1st, Hussein Mecklai sold 250 shares of Impinj stock. The shares were sold at an average price of $133.09, for a total transaction of $33,272.50.
• On Friday, January 13th, Hussein Mecklai sold 515 shares of Impinj stock. The stock was sold at an average price of $120.55, for a total transaction of $62,083.25.
• On Friday, December 16th, Hussein Mecklai sold 491 shares of Impinj stock. The stock was sold at an average price of $109.82, for a total transaction of $53,921.62.

Impinj Stock Up 1.2 %

PI opened at $127.01 on Tuesday. The company has a debt-to-equity ratio of 17.97, a quick ratio of 5.40 and a current ratio of 6.49. Impinj, Inc. has a fifty-two week low of $39.74 and a fifty-two week high of $142.78. The firm’s fifty day moving average is $121.98 and its 200 day moving average is $107.05. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of -132.30, a price-to-earnings-growth ratio of 38.63 and a beta of 2.36.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. TheStreet raised shares of Impinj from a “d” rating to a “c-” rating in a research report on Wednesday, February 8th. The Goldman Sachs Group lifted their target price on shares of Impinj from $111.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. Lake Street Capital lifted their target price on shares of Impinj from $132.00 to $135.00 in a research report on Thursday, February 9th. Canaccord Genuity Group lifted their target price on shares of Impinj from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. Finally, Needham & Company LLC boosted their price objective on shares of Impinj from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, February 9th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $129.75.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PI. Raymond James & Associates lifted its stake in shares of Impinj by 3.3% during the 1st quarter. Raymond James & Associates now owns 17,095 shares of the company’s stock valued at $1,086,000 after buying an additional 540 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Impinj by 21.7% during the 1st quarter. HighTower Advisors LLC now owns 7,326 shares of the company’s stock valued at $466,000 after buying an additional 1,305 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Impinj by 55.2% in the 1st quarter. MetLife Investment Management LLC now owns 10,123 shares of the company’s stock worth $643,000 after purchasing an additional 3,601 shares in the last quarter. Rhumbline Advisers lifted its stake in Impinj by 2.7% in the 1st quarter. Rhumbline Advisers now owns 19,620 shares of the company’s stock worth $1,247,000 after purchasing an additional 516 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Impinj by 1.5% in the 1st quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock worth $89,758,000 after purchasing an additional 20,404 shares in the last quarter. Hedge funds and other institutional investors own 97.32% of the company’s stock.

About Impinj

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IImpinj, Inc engages in the development and sale of radio frequency identification solutions. The company was founded by Christopher Diorio in April 2000 and is headquartered in Seattle, WA.