Impinj, Inc. (NASDAQ:PI) Major Shareholder Sells $50,750,000.00 in Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 250,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $203.00, for a total value of $50,750,000.00. Following the completion of the sale, the insider now directly owns 2,222,352 shares of the company’s stock, valued at $451,137,456. The trade was a 10.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 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 Wednesday, November 13th, Sylebra Capital Llc sold 2,550 shares of Impinj stock. The stock was sold at an average price of $195.41, for a total transaction of $498,295.50.
• On Monday, November 11th, Sylebra Capital Llc sold 78,616 shares of Impinj stock. The shares were sold at an average price of $201.79, for a total transaction of $15,863,922.64.
• 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 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 acquired 4,264,393 shares of Impinj stock. The shares were purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17.

Impinj Stock Performance

NASDAQ PI opened at $182.73 on Friday. Impinj, Inc. has a one year low of $78.17 and a one year high of $239.88. The stock has a 50-day moving average of $204.99 and a 200 day moving average of $175.70. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 205.31 and a beta of 1.81.

Impinj (NASDAQ:PI) last announced its quarterly 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. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. The business’s revenue for the quarter was up 46.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.36) earnings per share. On average, equities analysts predict that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Impinj

Hedge funds have recently added to or reduced their stakes in the stock. PDT Partners LLC bought a new stake in shares of Impinj during the 3rd quarter valued at about $2,413,000. Fred Alger Management LLC grew its position in Impinj by 16.9% during the third quarter. Fred Alger Management LLC now owns 121,117 shares of the company’s stock valued at $26,224,000 after buying an additional 17,515 shares during the period. Captrust Financial Advisors increased its holdings in Impinj by 2.2% during the third quarter. Captrust Financial Advisors now owns 13,170 shares of the company’s stock valued at $2,852,000 after buying an additional 284 shares during the last quarter. Public Sector Pension Investment Board purchased a new stake in Impinj during the third quarter valued at approximately $10,458,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Impinj by 5.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,406 shares of the company’s stock worth $1,171,000 after acquiring an additional 262 shares during the last quarter.

Wall Street Analyst Weigh In

PI has been the subject of a number of recent research reports. Susquehanna lifted their price target on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. Lake Street Capital boosted their price target on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Needham & Company LLC raised their price objective on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, Cantor Fitzgerald increased their target price on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Impinj has a consensus 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.