Insider Selling: Impinj, Inc. (NASDAQ:PI) COO Sells 435 Shares of Stock

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

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 stock was 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 Trading Down 0.2 %

NASDAQ:PI traded down $0.23 during mid-day trading on Wednesday, reaching $121.16. 212,150 shares of the company were exchanged, compared to its average volume of 367,482. Impinj, Inc. has a 12 month low of $48.39 and a 12 month high of $142.70. The company has a fifty day moving average of $115.60 and a 200 day moving average of $91.31. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The firm had revenue of $70.65 million for the quarter, compared to analyst estimates of $67.10 million. As a group, equities analysts predict that Impinj, Inc. will post -0.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PI has been the subject of several research analyst reports. Needham & Company LLC upped their target price on shares of Impinj from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Evercore ISI began coverage on shares of Impinj in a research note on Tuesday. They issued an “outperform” rating and a $160.00 price objective for the company. StockNews.com upgraded shares of Impinj to a “sell” rating in a research note on Friday, February 9th. The Goldman Sachs Group increased their price objective on shares of Impinj from $89.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Roth Mkm increased their target price on shares of Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.44.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new position in shares of Impinj in the 1st quarter valued at about $32,000. Advisors Asset Management Inc. bought a new position in shares of Impinj in the 1st quarter valued at about $39,000. GAMMA Investing LLC bought a new position in shares of Impinj in the 4th quarter valued at about $40,000. KBC Group NV bought a new position in shares of Impinj in the 4th quarter valued at about $47,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Impinj in the 3rd quarter valued at about $55,000.

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.