Insider Selling: Impinj, Inc. (NASDAQ:PI) COO Sells 826 Shares of Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 826 shares of Impinj stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.07, for a total transaction of $120,653.82. Following the sale, the chief operating officer now owns 60,830 shares in the company, valued at approximately $8,885,438.10. This represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 transaction 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 value of $101,519.25.

Impinj Trading Down 0.7 %

NASDAQ:PI opened at $147.78 on Friday. The firm has a fifty day simple moving average of $183.64 and a two-hundred day simple moving average of $177.04. Impinj, Inc. has a 12 month low of $78.17 and a 12 month high of $239.88. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 166.04 and a beta of 1.80.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Evercore ISI reissued an “outperform” rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. The Goldman Sachs Group increased their target price on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Needham & Company LLC boosted their price target on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Cantor Fitzgerald increased their price objective on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Piper Sandler restated an “overweight” rating and issued a $235.00 target price (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Impinj currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.60.

Hedge Funds Weigh In On Impinj

A number of large investors have recently modified their holdings of PI. Los Angeles Capital Management LLC raised its holdings in Impinj by 210.2% during the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock worth $1,855,000 after buying an additional 5,807 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Impinj during the third quarter worth about $3,872,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Impinj in the 3rd quarter worth about $846,000. Principal Financial Group Inc. raised its holdings in shares of Impinj by 4,013.7% in the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after acquiring an additional 122,579 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Impinj in the 3rd quarter valued at about $1,437,000.

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.