Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai Sells 3,739 Shares

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 3,739 shares of Impinj stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.81, for a total value of $369,450.59. Following the transaction, the chief operating officer now owns 70,347 shares in the company, valued at approximately $6,950,987.07. This represents a 5.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, January 13th, Hussein Mecklai sold 338 shares of Impinj stock. The stock was sold at an average price of $141.02, for a total transaction of $47,664.76.
• On Tuesday, December 24th, Hussein Mecklai sold 826 shares of Impinj stock. The shares were sold at an average price of $146.07, for a total transaction of $120,653.82.

Impinj Stock Performance

Shares of PI traded down $2.13 during mid-day trading on Monday, hitting $94.62. 543,084 shares of the company’s stock were exchanged, compared to its average volume of 766,156. Impinj, Inc. has a fifty-two week low of $93.54 and a fifty-two week high of $239.88. The stock’s 50-day moving average is $132.13 and its 200-day moving average is $169.02. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 69.57 and a beta of 1.88.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. As a group, equities research analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. raised its position in Impinj by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company’s stock valued at $3,586,000 after purchasing an additional 95 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Impinj by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock valued at $1,612,000 after acquiring an additional 100 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Impinj by 6.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company’s stock valued at $238,000 after acquiring an additional 106 shares in the last quarter. National Bank of Canada FI acquired a new position in Impinj during the 3rd quarter worth approximately $30,000. Finally, Farther Finance Advisors LLC increased its position in shares of Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares during the last quarter.

Analyst Ratings Changes

PI has been the topic of several analyst reports. Piper Sandler reduced their price target on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. The Goldman Sachs Group lowered their price target on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Needham & Company LLC reduced their price objective on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Cantor Fitzgerald lowered their target price on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.10.

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.