Sylebra Capital Llc Sells 22,373 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 22,373 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $195.00, for a total transaction of $4,362,735.00. Following the sale, the insider now owns 2,999,175 shares of the company’s stock, valued at $584,839,125. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 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 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 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 bought 4,264,393 shares of Impinj stock. The shares were acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17.

Impinj Stock Up 2.5 %

PI stock opened at $202.99 on Friday. The business has a 50 day moving average of $202.60 and a 200 day moving average of $173.70. Impinj, Inc. has a twelve month low of $67.37 and a twelve month high of $239.88. The firm has a market cap of $5.74 billion, a PE ratio of 228.08 and a beta of 1.81.

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

Institutional Investors Weigh In On Impinj

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Impinj during the first quarter valued at $513,000. TimesSquare Capital Management LLC purchased a new stake in shares of Impinj during the 1st quarter valued at about $19,195,000. Harbor Capital Advisors Inc. grew its stake 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 acquiring an additional 7,151 shares during the period. Raymond James & Associates lifted its position 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 purchasing an additional 4,090 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Susquehanna boosted their price objective 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. Piper Sandler reissued an “overweight” rating and issued a $235.00 price target (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. The Goldman Sachs Group raised 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. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC lifted their price target on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report 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 stock. Based on data from MarketBeat, the company presently 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.