Impinj, Inc. (NASDAQ:PI) Major Shareholder Sells $4,362,735.00 in Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 22,373 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $195.00, for a total value of $4,362,735.00. Following the sale, the insider now directly owns 2,999,175 shares of the company’s stock, valued at approximately $584,839,125. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases 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 stock was sold at an average price of $201.78, for a total transaction 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 transaction of $18,675,740.70.
• 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 transaction of $6,257,255.85.
• On Friday, September 13th, Sylebra Capital Llc bought 4,264,393 shares of Impinj stock. The stock was purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17.

Impinj Stock Up 2.5 %

Shares of NASDAQ PI opened at $202.99 on Friday. The firm has a market capitalization of $5.74 billion, a P/E ratio of 228.08 and a beta of 1.81. The stock’s 50-day simple moving average is $202.60 and its two-hundred day simple moving average is $173.70. Impinj, Inc. has a twelve month low of $67.37 and a twelve month 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. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. During the same period last year, the firm posted ($0.36) earnings per share. Impinj’s quarterly revenue was up 46.5% on a year-over-year basis. As a group, research analysts anticipate that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PI shares. Roth Mkm lifted their price objective on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. 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 report on Thursday, October 24th. Needham & Company LLC increased their target price on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald lifted their price target on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $224.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its holdings in shares of Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after acquiring an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Impinj in the third quarter worth $54,000. SouthState Corp purchased a new stake in Impinj during the second quarter valued at about $94,000. nVerses Capital LLC grew its stake in shares of Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after buying an additional 300 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. increased its holdings in shares of Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after buying an additional 549 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.