Insider Selling: Impinj, Inc. (NASDAQ:PI) COO Sells 1,456 Shares of Stock

Impinj, Inc. (NASDAQ:PI) COO Hussein Mecklai sold 1,456 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.83, for a total value of $184,664.48. Following the transaction, the chief operating officer now directly owns 54,755 shares of the company’s stock, valued at approximately $6,944,576.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 Price Performance

Shares of PI stock traded down $1.40 during trading hours on Tuesday, hitting $126.59. The stock had a trading volume of 234,217 shares, compared to its average volume of 409,729. Impinj, Inc. has a one year low of $48.39 and a one year high of $142.70. 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 stock’s 50-day moving average price is $108.49 and its two-hundred day moving average price is $84.44. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of -78.14 and a beta of 2.04.

Impinj (NASDAQ:PI) last issued its earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $70.65 million for the quarter, compared to analysts’ expectations of $67.10 million. Equities analysts forecast that Impinj, Inc. will post -0.62 EPS for the current year.

Analysts Set New Price Targets

PI has been the topic of several analyst reports. Roth Mkm lifted their target price on Impinj from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Needham & Company LLC boosted their price objective on Impinj from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Susquehanna boosted their price objective on Impinj from $115.00 to $130.00 and gave the company a “positive” rating in a research report on Friday, February 9th. Canaccord Genuity Group boosted their price objective on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, The Goldman Sachs Group boosted their price objective on Impinj from $89.00 to $115.00 and gave the company a “buy” 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 data from MarketBeat.com, Impinj currently has a consensus rating of “Hold” and a consensus price target of $114.38.

Institutional Investors Weigh In On Impinj

Several large investors have recently added to or reduced their stakes in the stock. Raymond James & Associates raised its holdings in shares of Impinj by 3.3% in the first quarter. Raymond James & Associates now owns 17,095 shares of the company’s stock worth $1,086,000 after buying an additional 540 shares during the period. HighTower Advisors LLC boosted its position in Impinj by 21.7% during the 1st quarter. HighTower Advisors LLC now owns 7,326 shares of the company’s stock valued at $466,000 after acquiring an additional 1,305 shares in the last quarter. MetLife Investment Management LLC boosted its position in Impinj by 55.2% during the 1st quarter. MetLife Investment Management LLC now owns 10,123 shares of the company’s stock valued at $643,000 after acquiring an additional 3,601 shares in the last quarter. Rhumbline Advisers boosted its position in Impinj by 2.7% during the 1st quarter. Rhumbline Advisers now owns 19,620 shares of the company’s stock valued at $1,247,000 after acquiring an additional 516 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Impinj by 1.5% during the 1st quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock valued at $89,758,000 after acquiring an additional 20,404 shares in the last quarter.

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.