Hussein Mecklai Sells 435 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 435 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $118.75, for a total transaction of $51,656.25. Following the completion of the transaction, the chief operating officer now directly owns 55,414 shares of the company’s stock, valued at approximately $6,580,412.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was 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

NASDAQ:PI traded down $0.23 during trading hours on Wednesday, hitting $121.16. 212,150 shares of the company traded hands, compared to its average volume of 367,482. The company has a debt-to-equity ratio of 8.26, a current ratio of 8.73 and a quick ratio of 5.59. The firm’s 50-day simple moving average is $115.60 and its 200-day simple moving average is $91.31. Impinj, Inc. has a one year low of $48.39 and a one year high of $142.70.

Impinj (NASDAQ:PI) last issued its quarterly earnings data 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 return on equity of 74.70% and a negative net margin of 14.10%. The business had revenue of $70.65 million for the quarter, compared to analysts’ expectations of $67.10 million. As a group, equities research analysts predict that Impinj, Inc. will post -0.62 EPS for the current year.

Hedge Funds Weigh In On Impinj

Several large investors have recently bought and sold shares of PI. Future Financial Wealth Managment LLC bought a new stake in shares of Impinj during the 1st quarter worth $32,000. American International Group Inc. raised its stake in shares of Impinj by 1.1% during the 4th quarter. American International Group Inc. now owns 11,601 shares of the company’s stock worth $1,044,000 after purchasing an additional 122 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Impinj by 4.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,977 shares of the company’s stock worth $1,259,000 after purchasing an additional 654 shares during the period. Sylebra Capital LLC raised its stake in shares of Impinj by 6.3% during the 4th quarter. Sylebra Capital LLC now owns 4,197,352 shares of the company’s stock worth $377,888,000 after purchasing an additional 248,786 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Impinj by 10.7% during the 4th quarter. Legal & General Group Plc now owns 23,993 shares of the company’s stock worth $2,160,000 after purchasing an additional 2,326 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PI shares. Evercore ISI started coverage on shares of Impinj in a report on Tuesday. They issued an “outperform” rating and a $160.00 price objective for the company. StockNews.com raised shares of Impinj to a “sell” rating in a research report on Friday, February 9th. Needham & Company LLC increased their target price on shares of Impinj from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. The Goldman Sachs Group increased their target price on shares of Impinj from $89.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, Susquehanna increased their target price on shares of Impinj from $115.00 to $130.00 and gave the company a “positive” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.44.

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.