Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai Sells 5,000 Shares

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $154.38, for a total transaction of $771,900.00. Following the completion of the transaction, the chief operating officer now directly owns 55,414 shares in the company, valued at approximately $8,554,813.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, April 15th, Hussein Mecklai sold 435 shares of Impinj stock. The shares were sold at an average price of $118.75, for a total transaction of $51,656.25.
• On Monday, March 25th, Hussein Mecklai sold 1,456 shares of Impinj stock. The stock was sold at an average price of $126.83, for a total transaction of $184,664.48.
• On Monday, March 18th, Hussein Mecklai sold 489 shares of Impinj stock. The shares were sold at an average price of $124.38, for a total transaction of $60,821.82.
• On Friday, February 23rd, Hussein Mecklai sold 7,217 shares of Impinj stock. The shares were sold at an average price of $101.15, for a total transaction of $729,999.55.
• On Monday, February 12th, Hussein Mecklai sold 30,000 shares of Impinj stock. The shares were sold at an average price of $104.80, for a total transaction of $3,144,000.00.

Impinj Stock Performance

Impinj stock opened at $161.23 on Friday. The business has a 50 day moving average of $124.94 and a 200-day moving average of $98.65. Impinj, Inc. has a 1 year low of $48.39 and a 1 year high of $163.45. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 6.87. The company has a market capitalization of $4.47 billion, a P/E ratio of -460.66 and a beta of 1.85.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.14. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The company had revenue of $76.83 million during the quarter, compared to the consensus estimate of $73.57 million. On average, equities research analysts predict that Impinj, Inc. will post -0.62 earnings per share for the current year.

Analysts Set New Price Targets

PI has been the subject of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $150.00 price target (up previously from $130.00) on shares of Impinj in a research note on Thursday, April 25th. Roth Mkm boosted their target price on Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Needham & Company LLC boosted their target price on Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group boosted their target price on Impinj from $130.00 to $156.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $132.89.

Institutional Trading of Impinj

Institutional investors have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new stake in Impinj in the first quarter valued at approximately $32,000. GAMMA Investing LLC bought a new position in shares of Impinj during the 4th quarter worth approximately $40,000. Headlands Technologies LLC bought a new position in shares of Impinj during the 4th quarter worth approximately $58,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Impinj by 117.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after buying an additional 521 shares in the last quarter. Finally, Whittier Trust Co. bought a new position in shares of Impinj during the 4th quarter worth approximately $90,000.

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.