Impinj, Inc. (NASDAQ:PI) Major Shareholder Sylebra Capital Llc Sells 89,809 Shares of Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 89,809 shares of Impinj stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $201.78, for a total value of $18,121,660.02. Following the completion of the transaction, the insider now owns 2,607,543 shares in the company, valued at approximately $526,150,026.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 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 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 transaction of $18,675,740.70.
• On Friday, November 1st, Sylebra Capital Llc sold 22,373 shares of Impinj stock. The stock was 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 purchased 4,264,393 shares of Impinj stock. The shares were purchased at an average cost of $4.69 per share, for a total transaction of $20,000,003.17.

Impinj Stock Performance

PI stock opened at $202.99 on Friday. Impinj, Inc. has a fifty-two week low of $67.37 and a fifty-two week high of $239.88. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 228.08 and a beta of 1.81. The business’s 50-day moving average is $202.60 and its two-hundred day moving average is $173.70.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PI. Evercore ISI reiterated an “outperform” rating and set a $270.00 price target (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Lake Street Capital increased their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Susquehanna raised their price objective on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. The Goldman Sachs Group increased 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. Finally, Roth Mkm raised their price objective on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Institutional Investors Weigh In On Impinj

A number of institutional investors have recently bought and sold shares of PI. SG Americas Securities LLC bought a new position in shares of Impinj during the 1st quarter valued at approximately $513,000. TimesSquare Capital Management LLC bought a new position in shares of Impinj during the first quarter valued at approximately $19,195,000. Harbor Capital Advisors Inc. raised its holdings in shares of Impinj by 112.0% in the second quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock worth $2,122,000 after buying an additional 7,151 shares during the period. Raymond James & Associates boosted its holdings in Impinj by 21.7% during the 3rd quarter. Raymond James & Associates now owns 22,951 shares of the company’s stock valued at $4,969,000 after acquiring an additional 4,090 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Impinj by 13.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock worth $7,990,000 after purchasing an additional 7,247 shares during the period.

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.