Impinj, Inc. (NASDAQ:PI) COO Sells $51,656.25 in Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 435 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $118.75, for a total transaction of $51,656.25. Following the sale, the chief operating officer now directly owns 55,414 shares in the company, valued at approximately $6,580,412.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 transaction of $184,664.48.
• On Monday, March 18th, Hussein Mecklai sold 489 shares of Impinj stock. The shares were sold at an average price of $124.38, for a total transaction of $60,821.82.
• On Friday, February 23rd, Hussein Mecklai sold 7,217 shares of Impinj stock. The shares were sold at an average price of $101.15, for a total transaction of $729,999.55.
• On Monday, February 12th, Hussein Mecklai sold 30,000 shares of Impinj stock. The shares were sold at an average price of $104.80, for a total transaction of $3,144,000.00.

Impinj Stock Performance

Shares of NASDAQ:PI opened at $116.32 on Friday. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $141.68. The firm’s 50 day simple moving average is $116.30 and its two-hundred day simple moving average is $92.16.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The business had revenue of $70.65 million for the quarter, compared to the consensus estimate of $67.10 million. On average, research analysts anticipate that Impinj, Inc. will post -0.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Roth Mkm raised their price target on shares of Impinj from $115.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Canaccord Genuity Group raised their price objective on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. The Goldman Sachs Group raised their price objective on shares of Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Susquehanna raised their price objective on shares of Impinj from $115.00 to $130.00 and gave the stock a “positive” rating in a report on Friday, February 9th. Finally, Evercore ISI initiated coverage on shares of Impinj in a report on Tuesday. They issued an “outperform” rating and a $160.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.44.

Hedge Funds Weigh In On Impinj

Large investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in Impinj during the first quarter valued at approximately $32,000. Advisors Asset Management Inc. purchased a new position in Impinj during the first quarter valued at approximately $39,000. GAMMA Investing LLC purchased a new position in Impinj during the fourth quarter valued at approximately $40,000. KBC Group NV purchased a new position in Impinj during the fourth quarter valued at approximately $47,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Impinj during the third quarter valued at approximately $55,000.

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.