Insider Selling: Impinj, Inc. (NASDAQ:PI) COO Sells 871 Shares of Stock

Impinj, Inc. (NASDAQ:PI – Get Rating) COO Hussein Mecklai sold 871 shares of the 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 transaction, the chief operating officer now directly owns 31,004 shares in the company, valued at $2,578,912.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, August 3rd, Hussein Mecklai sold 9,000 shares of Impinj stock. The stock was sold at an average price of $89.00, for a total transaction of $801,000.00.
• On Thursday, July 28th, Hussein Mecklai sold 17,375 shares of Impinj stock. The stock was 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 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 Up 6.6 %

Shares of PI opened at $92.18 on Thursday. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -41.71 and a beta of 2.24. Impinj, Inc. has a 12 month low of $39.74 and a 12 month high of $94.39. The company has a 50-day moving average price of $60.26 and a two-hundred day moving average price of $61.03.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Impinj

Hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in shares of Impinj during the first quarter worth approximately $39,000. Quantbot Technologies LP acquired a new stake in shares of Impinj during the first quarter worth approximately $101,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Impinj by 49.8% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,171 shares of the company’s stock worth $138,000 after buying an additional 722 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of Impinj during the second quarter worth approximately $151,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Impinj by 35.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,434 shares of the company’s stock worth $155,000 after buying an additional 643 shares in the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

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.