Insider Selling: Impinj, Inc. (NASDAQ:PI) COO Sells 833 Shares of Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 833 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $147.58, for a total value of $122,934.14. Following the transaction, the chief operating officer now owns 57,427 shares in the company, valued at $8,475,076.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, June 17th, Hussein Mecklai sold 495 shares of Impinj stock. The stock was sold at an average price of $149.90, for a total value of $74,200.50.
• 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 value of $771,900.00.
• On Monday, April 15th, Hussein Mecklai sold 435 shares of Impinj stock. The stock was sold at an average price of $118.75, for a total transaction of $51,656.25.

Impinj Price Performance

Impinj stock traded up $2.51 on Tuesday, reaching $150.96. The company’s stock had a trading volume of 290,009 shares, compared to its average volume of 435,893. Impinj, Inc. has a twelve month low of $48.39 and a twelve month high of $175.41. The company has a market cap of $4.18 billion, a price-to-earnings ratio of -431.31 and a beta of 1.80. The company has a debt-to-equity ratio of 3.29, a quick ratio of 6.87 and a current ratio of 9.42. The business’s fifty day moving average price is $154.24 and its 200 day moving average price is $121.58.

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

Institutional Trading of Impinj

A number of hedge funds and other institutional investors have recently modified their holdings of PI. Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj during the 1st quarter worth approximately $32,000. GAMMA Investing LLC acquired a new stake in Impinj during the 4th quarter worth $40,000. Headlands Technologies LLC acquired a new stake in Impinj during the 4th quarter worth $58,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Impinj by 117.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after acquiring an additional 521 shares during the last quarter. Finally, Whittier Trust Co. acquired a new position in shares of Impinj in the 4th quarter valued at $90,000.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PI shares. Jefferies Financial Group began coverage on shares of Impinj in a research note on Monday, May 13th. They issued a “buy” rating and a $200.00 price objective for the company. Roth Mkm raised their price target on shares of Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Piper Sandler reiterated an “overweight” rating and issued a $150.00 price objective (up from $130.00) on shares of Impinj in a research note on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and set a $195.00 target price on shares of Impinj in a research report on Wednesday, June 5th. Finally, StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $143.10.

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.