Impinj, Inc. (NASDAQ:PI) COO Sells $47,664.76 in Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 338 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $141.02, for a total value of $47,664.76. Following the transaction, the chief operating officer now owns 61,586 shares in the company, valued at $8,684,857.72. The trade was a 0.55 % 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 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.
• 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.

Impinj Trading Up 2.0 %

Impinj stock traded up $2.99 during mid-day trading on Tuesday, reaching $149.31. The company had a trading volume of 473,899 shares, compared to its average volume of 410,137. The business has a fifty day simple moving average of $168.32 and a 200 day simple moving average of $177.04. The company has a market cap of $4.22 billion, a P/E ratio of 167.76 and a beta of 1.88. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PI shares. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Susquehanna raised their price objective on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Piper Sandler restated an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Lake Street Capital upped their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. One 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

Institutional Trading of Impinj

Several institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC lifted its stake in shares of Impinj by 210.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock valued at $1,855,000 after purchasing an additional 5,807 shares during the period. Nordea Investment Management AB bought a new stake in Impinj in the fourth quarter worth approximately $3,341,000. Thrivent Financial for Lutherans acquired a new position in Impinj in the third quarter valued at approximately $3,872,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Impinj during the 3rd quarter worth approximately $846,000. Finally, Principal Financial Group Inc. grew its position in shares of Impinj by 4,013.7% during the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after buying an additional 122,579 shares during the period.

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.