Sylebra Capital Llc Sells 78,616 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 78,616 shares of Impinj stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $201.79, for a total value of $15,863,922.64. Following the sale, the insider now directly owns 2,143,736 shares in the company, valued at approximately $432,584,487.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, November 8th, Sylebra Capital Llc sold 250,000 shares of Impinj stock. The shares were sold at an average price of $203.00, for a total value of $50,750,000.00.
• On Wednesday, November 6th, Sylebra Capital Llc sold 89,809 shares of Impinj stock. The shares were sold at an average price of $201.78, for a total value of $18,121,660.02.
• On Monday, November 4th, Sylebra Capital Llc sold 95,670 shares of Impinj stock. The shares were 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 transaction of $4,362,735.00.
• On Wednesday, October 30th, Sylebra Capital Llc sold 32,031 shares of Impinj stock. The shares were sold at an average price of $195.35, for a total transaction of $6,257,255.85.
• On Friday, September 13th, Sylebra Capital Llc bought 4,264,393 shares of Impinj stock. The shares were acquired at an average price of $4.69 per share, with a total value of $20,000,003.17.

Impinj Trading Down 4.6 %

Shares of PI opened at $185.76 on Thursday. The firm has a market cap of $5.25 billion, a PE ratio of 208.72 and a beta of 1.81. The firm has a fifty day simple moving average of $204.57 and a two-hundred day simple moving average of $175.63. Impinj, Inc. has a 1-year low of $75.83 and a 1-year high of $239.88.

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

Institutional Investors Weigh In On Impinj

A number of hedge funds have recently added to or reduced their stakes in PI. SG Americas Securities LLC bought a new stake in shares of Impinj during the 1st quarter valued at $513,000. Swiss National Bank grew its position in shares of Impinj by 0.9% during the 1st quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $5,830,000 after acquiring an additional 400 shares during the period. ProShare Advisors LLC grew its position in shares of Impinj by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 4,194 shares of the company’s stock valued at $539,000 after acquiring an additional 330 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of Impinj during the 1st quarter valued at $9,659,000. Finally, Vanguard Group Inc. grew its position in shares of Impinj by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after acquiring an additional 35,893 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PI shares. Piper Sandler reiterated an “overweight” rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. Cantor Fitzgerald lifted their target price on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Finally, Lake Street Capital boosted their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $224.60.

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.