Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai Sells 5,000 Shares

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 5,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $154.38, for a total transaction of $771,900.00. Following the completion of the transaction, the chief operating officer now owns 55,414 shares of the company’s stock, valued at $8,554,813.32. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, April 15th, Hussein Mecklai sold 435 shares of Impinj stock. The shares were sold at an average price of $118.75, for a total transaction of $51,656.25.
• On Monday, March 25th, Hussein Mecklai sold 1,456 shares of Impinj stock. The shares were sold at an average price of $126.83, for a total transaction of $184,664.48.
• On Monday, March 18th, Hussein Mecklai sold 489 shares of Impinj stock. The shares were sold at an average price of $124.38, for a total transaction of $60,821.82.
• On Friday, February 23rd, Hussein Mecklai sold 7,217 shares of Impinj stock. The shares were sold at an average price of $101.15, for a total transaction of $729,999.55.
• On Monday, February 12th, Hussein Mecklai sold 30,000 shares of Impinj stock. The shares were sold at an average price of $104.80, for a total transaction of $3,144,000.00.

Impinj Trading Up 3.3 %

Shares of PI traded up $5.07 during trading hours on Thursday, reaching $159.73. 569,839 shares of the company traded hands, compared to its average volume of 433,484. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of -441.89 and a beta of 1.85. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $162.89. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29. The stock’s fifty day moving average price is $122.57 and its 200 day moving average price is $97.47.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. The firm had revenue of $76.83 million during the quarter, compared to analyst estimates of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. Sell-side analysts forecast that Impinj, Inc. will post -0.62 earnings per share for the current year.

Institutional Trading of Impinj

A number of hedge funds have recently added to or reduced their stakes in PI. FMR LLC lifted its position in shares of Impinj by 0.8% during the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after buying an additional 31,289 shares during the last quarter. Sylebra Capital LLC bought a new stake in shares of Impinj in the 3rd quarter valued at about $217,290,000. Westfield Capital Management Co. LP boosted its holdings in shares of Impinj by 40.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after buying an additional 292,470 shares in the last quarter. Fred Alger Management LLC boosted its holdings in shares of Impinj by 249.6% in the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after buying an additional 568,301 shares in the last quarter. Finally, Capital International Investors bought a new stake in shares of Impinj in the 4th quarter valued at about $68,211,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PI. The Goldman Sachs Group raised their price target on shares of Impinj from $130.00 to $156.00 and gave the company a “buy” rating in a report on Friday, April 26th. Evercore ISI began coverage on shares of Impinj in a report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price target on the stock. Roth Mkm raised their price target on shares of Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Piper Sandler reissued an “overweight” rating and issued a $150.00 price objective (up previously from $130.00) on shares of Impinj in a report on Thursday, April 25th. Finally, Needham & Company LLC raised their price objective on shares of Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.89.

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.