Insider Selling: Impinj, Inc. (NASDAQ:PI) COO Sells 822 Shares of Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 822 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.18, for a total transaction of $171,945.96. Following the transaction, the chief operating officer now owns 59,374 shares of the company’s stock, valued at approximately $12,419,853.32. The transaction 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 Monday, July 15th, Hussein Mecklai sold 416 shares of Impinj stock. The shares were sold at an average price of $175.43, for a total transaction of $72,978.88.

Impinj Stock Down 2.1 %

Shares of NASDAQ PI opened at $213.31 on Friday. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $220.17. The business’s 50 day moving average price is $168.51 and its 200 day moving average price is $154.71. The firm has a market cap of $5.91 billion, a P/E ratio of -609.46 and a beta of 1.78.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. The business had revenue of $102.50 million for the quarter, compared to the consensus estimate of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.14) EPS. As a group, research analysts expect that Impinj, Inc. will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On Impinj

Several hedge funds have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC purchased a new stake in Impinj in the 1st quarter worth approximately $32,000. SouthState Corp purchased a new position in shares of Impinj during the 2nd quarter valued at approximately $94,000. nVerses Capital LLC lifted its stake in shares of Impinj by 75.0% in the 2nd 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. Jamison Private Wealth Management Inc. boosted 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 worth $127,000 after buying an additional 549 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in Impinj by 117.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after buying an additional 521 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PI shares. Evercore ISI increased their price objective on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Lake Street Capital increased their price target on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Cantor Fitzgerald restated an “overweight” rating and set a $205.00 price target on shares of Impinj in a research note on Thursday, July 25th. Susquehanna increased their price objective on shares of Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $225.00 target price (up from $180.00) on shares of Impinj in a research note on Friday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average 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.