Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai Sells 17,375 Shares of Stock

Impinj, Inc. (NASDAQ:PIGet Rating) COO Hussein Mecklai sold 17,375 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $82.19, for a total value of $1,428,051.25. Following the completion of the sale, the chief operating officer now owns 30,625 shares of the company’s stock, valued at $2,517,068.75. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

  • On Monday, August 1st, Hussein Mecklai sold 871 shares of Impinj stock. The stock was sold at an average price of $83.18, for a total transaction of $72,449.78.
  • On Wednesday, July 13th, Hussein Mecklai sold 435 shares of Impinj stock. The shares were sold at an average price of $64.46, for a total transaction of $28,040.10.
  • On Thursday, June 16th, Hussein Mecklai sold 519 shares of Impinj stock. The shares were sold at an average price of $47.98, for a total transaction of $24,901.62.

Impinj Stock Performance

NASDAQ PI opened at $86.56 on Tuesday. The firm’s 50 day moving average price is $58.44 and its 200-day moving average price is $60.63. Impinj, Inc. has a 52-week low of $39.74 and a 52-week high of $94.39. The company has a market cap of $2.20 billion, a PE ratio of -39.17 and a beta of 2.24.

Impinj (NASDAQ:PIGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.13. Impinj had a negative net margin of 26.07% and a negative return on equity of 236.49%. The firm had revenue of $59.80 million for the quarter, compared to the consensus estimate of $55.12 million. During the same period last year, the firm earned ($0.33) earnings per share. The company’s quarterly revenue was up 26.4% on a year-over-year basis. On average, analysts forecast that Impinj, Inc. will post -1.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on PI. The Goldman Sachs Group increased their price objective on shares of Impinj from $78.00 to $89.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Roth Capital reduced their price objective on shares of Impinj from $95.00 to $76.00 in a research report on Thursday, April 28th. Needham & Company LLC increased their price objective on shares of Impinj from $96.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Lake Street Capital increased their price objective on shares of Impinj from $87.00 to $94.00 in a research report on Thursday, July 28th. Finally, Piper Sandler increased their price objective on shares of Impinj from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Impinj currently has an average rating of “Moderate Buy” and an average price target of $93.80.

Institutional Investors Weigh In On Impinj

Several institutional investors have recently bought and sold shares of PI. BlackRock Inc. increased its holdings in Impinj by 1.5% in the first quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock valued at $89,758,000 after buying an additional 20,404 shares in the last quarter. Invesco Ltd. increased its holdings in Impinj by 16.5% in the first quarter. Invesco Ltd. now owns 1,189,985 shares of the company’s stock valued at $75,610,000 after buying an additional 168,597 shares in the last quarter. Vanguard Group Inc. increased its holdings in Impinj by 3.1% in the first quarter. Vanguard Group Inc. now owns 1,063,400 shares of the company’s stock valued at $67,568,000 after buying an additional 31,819 shares in the last quarter. State Street Corp increased its holdings in Impinj by 18.2% in the first quarter. State Street Corp now owns 922,301 shares of the company’s stock valued at $58,603,000 after buying an additional 142,182 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Impinj by 4.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 697,098 shares of the company’s stock valued at $40,897,000 after buying an additional 29,962 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Impinj Company Profile

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Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

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