Hussein Mecklai Sells 427 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 427 shares of Impinj stock in a transaction on Monday, October 14th. The shares were sold at an average price of $237.75, for a total value of $101,519.25. Following the transaction, the chief operating officer now owns 60,041 shares of the company’s stock, valued at $14,274,747.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Tuesday, September 24th, Hussein Mecklai sold 822 shares of Impinj stock. The shares were sold at an average price of $209.18, for a total value of $171,945.96.

Impinj Price Performance

Shares of PI traded down $5.33 during trading hours on Tuesday, hitting $233.25. The stock had a trading volume of 533,793 shares, compared to its average volume of 455,579. Impinj, Inc. has a 12 month low of $48.39 and a 12 month high of $239.88. The firm has a market capitalization of $6.46 billion, a PE ratio of -666.43 and a beta of 1.80. The stock has a fifty day moving average price of $184.02 and a 200 day moving average price of $163.49.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The company had revenue of $102.50 million during the quarter, compared to analyst estimates of $97.47 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. Impinj’s revenue was up 19.2% compared to the same quarter last year. As a group, analysts anticipate that Impinj, Inc. will post 0.31 EPS for the current fiscal year.

Institutional Trading of Impinj

Hedge funds have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC bought a new stake in Impinj during the first quarter valued at about $32,000. SouthState Corp bought a new stake in Impinj during the second quarter valued at about $94,000. USA Financial Formulas grew its holdings in Impinj by 82.0% during the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock valued at $142,000 after purchasing an additional 296 shares during the period. nVerses Capital LLC grew its holdings in Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after purchasing an additional 300 shares during the period. Finally, Jamison Private Wealth Management Inc. grew its holdings in Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after purchasing an additional 549 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PI shares. Piper Sandler restated an “overweight” rating and issued a $225.00 price target (up previously from $180.00) on shares of Impinj in a research note on Friday, September 27th. Needham & Company LLC restated a “buy” rating and issued a $195.00 price target on shares of Impinj in a research note on Thursday, July 25th. Lake Street Capital boosted their price target on Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Susquehanna boosted their price target on Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Finally, Roth Mkm boosted their price target on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

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.