Sylebra Capital Llc Sells 78,616 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 78,616 shares of Impinj stock in a transaction on Monday, November 11th. The stock was sold at an average price of $201.79, for a total transaction of $15,863,922.64. Following the completion of the transaction, the insider now directly owns 2,143,736 shares of the company’s stock, valued at approximately $432,584,487.44. This represents a 3.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major 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 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 Friday, November 8th, Sylebra Capital Llc sold 250,000 shares of Impinj stock. The shares were sold at an average price of $203.00, for a total transaction of $50,750,000.00.
• 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 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 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 purchased at an average price of $4.69 per share, with a total value of $20,000,003.17.

Impinj Stock Down 1.6 %

Shares of PI stock opened at $182.73 on Friday. The stock has a 50-day simple moving average of $204.99 and a 200 day simple moving average of $175.70. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88. The stock has a market capitalization of $5.17 billion, a P/E ratio of 205.31 and a beta of 1.81.

Impinj (NASDAQ:PI) last announced its quarterly earnings data 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 net margin of 8.21% and a negative return on equity of 1.64%. The company had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. During the same quarter in the previous year, the company posted ($0.36) EPS. The business’s revenue was up 46.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PI. Farther Finance Advisors LLC grew 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 acquired a new position in shares of Impinj in the 3rd quarter valued at $54,000. SouthState Corp acquired a new position in shares of Impinj in the 2nd quarter valued at $94,000. nVerses Capital LLC increased its stake in Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after purchasing an additional 300 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. raised its holdings in Impinj by 211.2% during the 2nd 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.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. The Goldman Sachs Group lifted their price target on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Roth Mkm increased 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. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Finally, Piper Sandler reissued an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $224.60.

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.