Impinj, Inc. (NASDAQ:PI) Major Shareholder Sells $18,675,740.70 in Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 95,670 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $195.21, for a total transaction of $18,675,740.70. Following the completion of the sale, the insider now owns 2,903,505 shares in the company, valued at approximately $566,793,211.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• 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 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 value of $6,257,255.85.
• On Friday, September 13th, Sylebra Capital Llc purchased 4,264,393 shares of Impinj stock. The shares were bought at an average price of $4.69 per share, for a total transaction of $20,000,003.17.

Impinj Price Performance

Shares of NASDAQ:PI opened at $202.99 on Friday. The stock’s 50 day moving average price is $202.60 and its 200 day moving average price is $173.70. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 228.08 and a beta of 1.81. Impinj, Inc. has a 12 month low of $67.37 and a 12 month high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate 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 negative return on equity of 1.64% and a net margin of 8.21%. The company’s revenue was up 46.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. On average, sell-side analysts expect that Impinj, Inc. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PI shares. Needham & Company LLC upped their price objective on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group increased their price objective on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Cantor Fitzgerald boosted their target price on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Piper Sandler restated an “overweight” rating and issued a $235.00 target price (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, StockNews.com cut 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 given a buy rating to the stock. Based on data from MarketBeat, Impinj has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Hedge Funds Weigh In On Impinj

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Impinj in the 1st quarter worth $513,000. TimesSquare Capital Management LLC purchased a new position in Impinj in the 1st quarter worth about $19,195,000. Harbor Capital Advisors Inc. raised its holdings in Impinj by 112.0% during the 2nd 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 lifted its stake in Impinj by 21.7% during the third quarter. Raymond James & Associates now owns 22,951 shares of the company’s stock valued at $4,969,000 after buying an additional 4,090 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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 buying an additional 7,247 shares during the period.

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.