Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai Sells 871 Shares of Stock

Impinj, Inc. (NASDAQ:PIGet Rating) COO Hussein Mecklai sold 871 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $83.18, for a total transaction of $72,449.78. Following the sale, the chief operating officer now directly owns 31,004 shares of the company’s stock, valued at approximately $2,578,912.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Thursday, July 28th, Hussein Mecklai sold 17,375 shares of Impinj stock. The shares were sold at an average price of $82.19, for a total transaction of $1,428,051.25.
  • On Wednesday, July 13th, Hussein Mecklai sold 435 shares of Impinj stock. The stock was 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 stock was sold at an average price of $47.98, for a total transaction of $24,901.62.

Impinj Price Performance

PI opened at $86.56 on Tuesday. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -39.17 and a beta of 2.24. The business has a 50-day moving average of $58.44 and a two-hundred day moving average of $60.63. Impinj, Inc. has a 12 month low of $39.74 and a 12 month high of $94.39.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PI. Needham & Company LLC raised their target price 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 target on Impinj from $87.00 to $94.00 in a report on Thursday, July 28th. The Goldman Sachs Group increased their price target on Impinj from $78.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Piper Sandler raised their target price on Impinj from $80.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. Finally, Roth Capital reduced their target price on Impinj from $95.00 to $76.00 in a report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.80.

Hedge Funds Weigh In On Impinj

Several hedge funds and other institutional investors have recently modified their holdings of PI. Advisors Asset Management Inc. acquired a new position in Impinj during the 1st quarter worth approximately $39,000. Quantbot Technologies LP bought a new position in shares of Impinj in the first quarter worth $101,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Impinj by 49.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,171 shares of the company’s stock worth $138,000 after purchasing an additional 722 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in shares of Impinj in the second quarter worth $151,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Impinj by 35.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,434 shares of the company’s stock valued at $155,000 after buying an additional 643 shares during the period. 88.00% of the stock is owned by institutional investors and hedge funds.

About Impinj

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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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Insider Buying and Selling by Quarter for Impinj (NASDAQ:PI)

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