Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai Sells 495 Shares

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 495 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $149.90, for a total value of $74,200.50. Following the transaction, the chief operating officer now directly owns 56,170 shares of the company’s stock, valued at approximately $8,419,883. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, May 1st, Hussein Mecklai sold 5,000 shares of Impinj stock. The shares were sold at an average price of $154.38, for a total transaction of $771,900.00.
• 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 value 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 value of $184,664.48.

Impinj Price Performance

Impinj stock opened at $147.17 on Wednesday. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $175.41. The stock has a 50 day moving average of $152.15 and a 200-day moving average of $119.77.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The business had revenue of $76.83 million for the quarter, compared to analysts’ expectations of $73.57 million. Equities analysts expect that Impinj, Inc. will post 0.02 earnings per share for the current year.

Institutional Trading of Impinj

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in Impinj during the first quarter worth about $334,000. Janus Henderson Group PLC increased its position in Impinj by 0.6% in the first quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock worth $56,376,000 after buying an additional 2,681 shares during the period. Bayesian Capital Management LP bought a new stake in Impinj in the first quarter valued at $228,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Impinj by 6.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,827 shares of the company’s stock valued at $1,904,000 after acquiring an additional 850 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Impinj by 165.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 5,343 shares of the company’s stock worth $685,000 after acquiring an additional 3,327 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Roth Mkm upped their price target on shares of Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price target on shares of Impinj in a research report on Wednesday, June 5th. Piper Sandler reissued an “overweight” rating and issued a $150.00 price objective (up previously from $130.00) on shares of Impinj in a research report on Thursday, April 25th. Canaccord Genuity Group boosted their price objective on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, The Goldman Sachs Group lowered Impinj from a “buy” rating to a “neutral” rating and set a $156.00 target price for the company. in a research note on Monday, May 20th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Impinj currently has an average rating of “Moderate Buy” and a consensus price target of $143.10.

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.