Hussein Mecklai Sells 1,456 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 1,456 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.83, for a total value of $184,664.48. Following the completion of the transaction, the chief operating officer now directly owns 54,755 shares of the company’s stock, valued at $6,944,576.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, March 18th, Hussein Mecklai sold 489 shares of Impinj stock. The stock was sold at an average price of $124.38, for a total value of $60,821.82.
• On Friday, February 23rd, Hussein Mecklai sold 7,217 shares of Impinj stock. The stock was sold at an average price of $101.15, for a total value of $729,999.55.
• On Monday, February 12th, Hussein Mecklai sold 30,000 shares of Impinj stock. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00.
• On Tuesday, January 16th, Hussein Mecklai sold 325 shares of Impinj stock. The stock was sold at an average price of $81.13, for a total value of $26,367.25.

Impinj Stock Performance

Impinj stock opened at $127.42 on Thursday. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. The business’s 50-day simple moving average is $109.22 and its two-hundred day simple moving average is $84.74. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $142.70.

Impinj (NASDAQ:PI) last posted 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. The business had revenue of $70.65 million for the quarter, compared to the consensus estimate of $67.10 million. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. As a group, sell-side analysts forecast that Impinj, Inc. will post -0.62 EPS for the current year.

Institutional Trading of Impinj

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Impinj by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company’s stock worth $9,577,000 after buying an additional 8,038 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Impinj in the third quarter valued at approximately $320,000. FMR LLC grew its holdings in Impinj by 0.8% in the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after purchasing an additional 31,289 shares during the period. Toronado Partners LLC grew its holdings in Impinj by 8.8% in the third quarter. Toronado Partners LLC now owns 355,825 shares of the company’s stock valued at $19,581,000 after purchasing an additional 28,700 shares during the period. Finally, AWM Investment Company Inc. grew its holdings in Impinj by 9.5% in the third quarter. AWM Investment Company Inc. now owns 365,428 shares of the company’s stock valued at $20,110,000 after purchasing an additional 31,556 shares during the period.

Wall Street Analyst Weigh In

PI has been the topic of several recent analyst reports. StockNews.com raised Impinj to a “sell” rating in a research report on Friday, February 9th. The Goldman Sachs Group upped their target price on Impinj from $89.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Canaccord Genuity Group upped their target price on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Needham & Company LLC upped their target price on Impinj from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, Susquehanna upped their target price on Impinj from $115.00 to $130.00 and gave the company a “positive” rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $114.38.

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.