Insider Selling: Impinj, Inc. (NASDAQ:PI) COO Sells 5,000 Shares of Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 5,000 shares of Impinj stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $154.38, for a total value of $771,900.00. Following the completion of the transaction, the chief operating officer now owns 55,414 shares of the company’s stock, valued at approximately $8,554,813.32. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, April 15th, Hussein Mecklai sold 435 shares of Impinj stock. The shares were sold at an average price of $118.75, for a total value of $51,656.25.
• 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 value 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 value 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 value 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 value of $3,144,000.00.

Impinj Price Performance

Shares of PI stock traded up $5.07 during trading hours on Thursday, hitting $159.73. The company had a trading volume of 569,839 shares, compared to its average volume of 433,484. Impinj, Inc. has a 12 month low of $48.39 and a 12 month high of $162.89. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of -441.89 and a beta of 1.85. The firm’s fifty day moving average is $122.57 and its 200 day moving average is $97.47. The company has a debt-to-equity ratio of 3.29, a quick ratio of 6.87 and a current ratio of 9.42.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.14. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The company had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. On average, sell-side analysts predict that Impinj, Inc. will post -0.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PI has been the topic of a number of research analyst reports. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Canaccord Genuity Group lifted their price target on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Piper Sandler reissued an “overweight” rating and set a $150.00 price objective (up previously from $130.00) on shares of Impinj in a research report on Thursday, April 25th. Needham & Company LLC boosted their price objective on Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group boosted their price objective on Impinj from $130.00 to $156.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.89.

Institutional Investors Weigh In On Impinj

Several large investors have recently modified their holdings of the stock. FMR LLC grew its stake in shares of Impinj by 0.8% in the 3rd 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. Sylebra Capital LLC bought a new stake in Impinj during the 3rd quarter worth approximately $217,290,000. Westfield Capital Management Co. LP grew its position in Impinj by 40.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock worth $56,260,000 after acquiring an additional 292,470 shares during the last quarter. Fred Alger Management LLC grew its position in Impinj by 249.6% during the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock worth $43,802,000 after acquiring an additional 568,301 shares during the last quarter. Finally, Capital International Investors acquired a new stake in shares of Impinj in the 4th quarter valued at $68,211,000.

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.