Sylebra Capital Llc Sells 32,031 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 32,031 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $195.35, for a total transaction of $6,257,255.85. Following the completion of the sale, the insider now directly owns 3,021,548 shares of the company’s stock, valued at $590,259,401.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large 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 Friday, September 13th, Sylebra Capital Llc bought 4,264,393 shares of Impinj stock. The stock was acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17.

Impinj Trading Up 2.5 %

Shares of Impinj stock opened at $194.71 on Friday. Impinj, Inc. has a 12-month low of $62.84 and a 12-month high of $239.88. The stock has a market cap of $5.51 billion, a PE ratio of 218.78 and a beta of 1.80. The company has a 50-day moving average of $199.89 and a two-hundred day moving average of $171.53.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) 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 company had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. During the same period last year, the company posted ($0.36) earnings per share. The firm’s quarterly revenue was up 46.5% compared to the same quarter last year. On average, sell-side analysts forecast that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PI has been the subject of a number of research reports. Susquehanna upped their target price on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. Needham & Company LLC upped their target price on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Lake Street Capital upped their target price on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Roth Mkm increased their price target on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Cantor Fitzgerald increased their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One equities research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. First Bank & Trust increased its holdings in Impinj by 3.2% in the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock valued at $383,000 after buying an additional 55 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of Impinj by 7.3% in the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after purchasing an additional 190 shares during the last quarter. Rhumbline Advisers grew its position in shares of Impinj by 0.8% in the second quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock valued at $5,158,000 after purchasing an additional 248 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj in the third quarter valued at approximately $54,000.

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.