Impinj, Inc. (NASDAQ:PI) Major Shareholder Sells $18,121,660.02 in Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 89,809 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $201.78, for a total transaction of $18,121,660.02. Following the transaction, the insider now owns 2,607,543 shares in the company, valued at $526,150,026.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Sylebra Capital Llc also recently made the following trade(s):

• On Monday, November 4th, Sylebra Capital Llc sold 95,670 shares of Impinj stock. The stock was sold at an average price of $195.21, for a total value of $18,675,740.70.
• On Friday, November 1st, Sylebra Capital Llc sold 22,373 shares of Impinj stock. The shares were sold at an average price of $195.00, for a total value of $4,362,735.00.
• On Wednesday, October 30th, Sylebra Capital Llc sold 32,031 shares of Impinj stock. The stock was sold at an average price of $195.35, for a total value of $6,257,255.85.
• On Friday, September 13th, Sylebra Capital Llc purchased 4,264,393 shares of Impinj stock. The shares were acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17.

Impinj Stock Up 0.3 %

PI stock opened at $203.56 on Friday. Impinj, Inc. has a 52 week low of $67.63 and a 52 week high of $239.88. The business has a 50-day simple moving average of $203.31 and a 200 day simple moving average of $174.63. The company has a market cap of $5.76 billion, a PE ratio of 228.72 and a beta of 1.81.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. During the same period in the previous year, the company earned ($0.36) EPS. The business’s revenue for the quarter was up 46.5% compared to the same quarter last year. On average, analysts anticipate that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PI. Evercore ISI reissued an “outperform” rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Lake Street Capital raised their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Needham & Company LLC lifted their price target on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Institutional Investors Weigh In On Impinj

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Bank & Trust lifted its holdings in shares of Impinj by 3.2% in the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after acquiring an additional 55 shares during the last quarter. Farther Finance Advisors LLC increased its position in Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares in the last quarter. KBC Group NV lifted its stake in Impinj by 29.7% in the 3rd quarter. KBC Group NV now owns 681 shares of the company’s stock valued at $147,000 after purchasing an additional 156 shares during the last quarter. Hsbc Holdings PLC boosted its position in Impinj by 7.3% in the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after buying an additional 190 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Impinj by 0.8% during the second quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after buying an additional 248 shares during the last quarter.

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.