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

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 32,031 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 3,021,548 shares in the company, valued at $590,259,401.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares 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 price of $4.69 per share, for a total transaction of $20,000,003.17.

Impinj Trading Down 0.9 %

Shares of PI opened at $189.99 on Friday. Impinj, Inc. has a 12-month low of $59.64 and a 12-month high of $239.88. The company has a market cap of $5.37 billion, a PE ratio of 213.47 and a beta of 1.80. The stock has a 50-day moving average price of $199.27 and a 200-day moving average price of $171.00.

Impinj (NASDAQ:PI) last released 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. The business had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.36) EPS. As a group, analysts predict that Impinj, Inc. will post 0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

PI has been the subject of a number of recent research reports. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Piper Sandler reiterated an “overweight” rating and set a $235.00 price target (up previously from $225.00) on shares of Impinj in a 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 note on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Finally, Cantor Fitzgerald increased their target price on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Washington Trust Bank bought a new stake in Impinj during the third quarter worth about $262,000. Principal Financial Group Inc. raised its holdings in shares of Impinj by 4,013.7% during the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after buying an additional 122,579 shares in the last quarter. Amalgamated Bank lifted its position in Impinj by 718.3% in the 3rd quarter. Amalgamated Bank now owns 6,702 shares of the company’s stock worth $1,451,000 after buying an additional 5,883 shares during the last quarter. Moloney Securities Asset Management LLC purchased a new stake in Impinj in the third quarter worth approximately $1,178,000. Finally, Asset Management One Co. Ltd. bought a new position in Impinj during the third quarter valued at approximately $138,000.

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.