Hussein Mecklai Sells 826 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 826 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.07, for a total value of $120,653.82. Following the completion of the transaction, the chief operating officer now directly owns 60,830 shares of the company’s stock, valued at approximately $8,885,438.10. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, October 28th, Hussein Mecklai sold 10,000 shares of Impinj stock. The stock was sold at an average price of $204.75, for a total value of $2,047,500.00.
• On Monday, October 14th, Hussein Mecklai sold 427 shares of Impinj stock. The shares were sold at an average price of $237.75, for a total transaction of $101,519.25.

Impinj Trading Down 0.7 %

Shares of Impinj stock traded down $0.98 during trading hours on Thursday, reaching $147.78. The stock had a trading volume of 309,536 shares, compared to its average volume of 482,156. Impinj, Inc. has a 1 year low of $78.17 and a 1 year high of $239.88. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 166.04 and a beta of 1.80. The firm has a 50 day simple moving average of $183.64 and a two-hundred day simple moving average of $177.04.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. During the same period in the previous year, the company posted ($0.36) earnings per share. Impinj’s revenue was up 46.5% compared to the same quarter last year. Sell-side analysts forecast that Impinj, Inc. will post 0.4 EPS for the current year.

Institutional Trading of Impinj

Large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Impinj by 1.5% in the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after acquiring an additional 60,461 shares during the period. State Street Corp boosted its stake in shares of Impinj by 25.7% in the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after purchasing an additional 220,776 shares during the period. Geode Capital Management LLC grew its holdings in Impinj by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock valued at $117,576,000 after purchasing an additional 7,676 shares in the last quarter. Jennison Associates LLC grew its holdings in Impinj by 15.0% during the 3rd quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock valued at $51,779,000 after purchasing an additional 31,269 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Impinj by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock worth $41,840,000 after buying an additional 6,232 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Lake Street Capital boosted their price objective on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their price target on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Piper Sandler restated an “overweight” rating and set a $235.00 price objective (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Needham & Company LLC upped their target price on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Susquehanna raised their price target on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Impinj has an average rating of “Moderate Buy” and an average target price of $224.60.

Impinj Company Profile

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.