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SEATTLE—Hussein Mecklai, Chief Operating Officer of Impinj Inc . (NASDAQ:PI), a $4.2 billion market cap company whose stock has surged 83% over the past year, recently executed a series of stock transactions, as detailed in a recent SEC filing. According to InvestingPro data, analysts maintain a strong buy consensus on the stock, with price targets ranging from $200 to $270.
On January 12, Mecklai acquired 1,094 shares of Impinj common stock through the settlement of restricted stock units. This acquisition was made at no cost.
The following day, January 13, Mecklai sold a total of 338 shares of Impinj common stock. The shares were sold in two separate transactions, with prices ranging from $140.6741 to $141.3537 per share. The total value of these sales amounted to $47,663. These transactions were executed to cover tax withholding obligations related to the settlement of restricted stock units.
Following these transactions, Mecklai's direct ownership of Impinj shares stands at 61,586 shares.
In other recent news, Impinj has affirmed its Q4 revenue and adjusted EBITDA guidance, expecting revenue to be between $91 million and $94 million, and adjusted EBITDA ranging from $13.6 million to $15.1 million. In terms of analyst activity, Lake Street Capital Markets, Needham, Cantor Fitzgerald, and Evercore ISI have all raised their price targets for Impinj following a robust Q3 performance. Impinj's Q3 earnings per share (EPS) of $0.56 exceeded estimates, with revenue reaching $95.2 million, marking a 46% increase year-over-year. The company's adjusted EBITDA stood at $17.3 million, reflecting an 18.2% margin.
Impinj is also set to participate in the 27th Annual Needham Growth Conference, with CEO Chris Diorio and CFO Cary Baker slated for a fireside chat. The company has also outlined its schedule for releasing comprehensive financial results for both the fourth quarter and the full year of 2024, with the report due after U.S. markets close on February 5, 2025. These are recent developments in the company's operations, providing investors with valuable insights into the company's performance and future expectations.
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