Insider Buying: Impinj, Inc. (NASDAQ:PI) Major Shareholder Acquires 4,264,393 Shares of Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was purchased at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the transaction, the insider now directly owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Impinj Stock Up 0.4 %

Shares of NASDAQ PI opened at $186.62 on Tuesday. The firm’s fifty day moving average is $163.03 and its 200 day moving average is $150.14. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $190.22. The company has a market cap of $5.25 billion, a price-to-earnings ratio of -533.20 and a beta of 1.78.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.14) earnings per share. Equities research analysts anticipate that Impinj, Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PI has been the topic of several recent analyst reports. Lake Street Capital raised their price target on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Roth Mkm boosted their price target on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Evercore ISI raised their price objective on shares of Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group cut Impinj from a “buy” rating to a “neutral” rating and set a $156.00 target price on the stock. in a research note on Monday, May 20th. Finally, Susquehanna raised their price target on Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $187.10.

Hedge Funds Weigh In On Impinj

A number of hedge funds and other institutional investors have recently made changes to their positions in PI. Charles Schwab Investment Management Inc. raised its holdings in Impinj by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 180,847 shares of the company’s stock worth $16,282,000 after purchasing an additional 6,810 shares in the last quarter. Ghisallo Capital Management LLC purchased a new stake in Impinj in the fourth quarter worth about $4,192,000. Eagle Asset Management Inc. increased its stake in shares of Impinj by 19.6% during the fourth quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock valued at $18,435,000 after purchasing an additional 33,504 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Impinj during the first quarter valued at approximately $513,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Impinj in the 1st quarter worth approximately $19,195,000.

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.