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

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 22,373 shares of the stock in a transaction on Friday, November 1st. The stock was 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 approximately $584,839,125. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 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 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 transaction of $18,675,740.70.
• 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 transaction of $6,257,255.85.
• On Friday, September 13th, Sylebra Capital Llc purchased 4,264,393 shares of Impinj stock. The shares were acquired at an average price of $4.69 per share, with a total value of $20,000,003.17.

Impinj Stock Up 2.8 %

Shares of PI opened at $198.23 on Wednesday. The company has a 50-day simple moving average of $201.17 and a 200-day simple moving average of $173.32. The company has a market capitalization of $5.61 billion, a PE ratio of 222.73 and a beta of 1.81. Impinj, Inc. has a 52-week low of $66.54 and a 52-week high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly 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. The business had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business’s revenue was up 46.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.36) EPS. On average, research analysts anticipate that Impinj, Inc. will post 0.4 EPS for the current year.

Hedge Funds Weigh In On Impinj

A number of large investors have recently made changes to their positions in PI. Vanguard Group Inc. increased its holdings in Impinj by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after acquiring an additional 35,893 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Impinj during the 2nd quarter valued at about $103,252,000. Janus Henderson Group PLC increased its holdings in Impinj by 0.6% during the 1st quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock valued at $56,376,000 after acquiring an additional 2,681 shares in the last quarter. Jennison Associates LLC purchased a new position in Impinj during the 1st quarter valued at about $25,747,000. Finally, Renaissance Technologies LLC purchased a new position in Impinj during the 2nd quarter valued at about $30,116,000.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PI shares. 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 research note on Thursday, July 25th. Lake Street Capital raised their target price on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group raised their target price on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Cantor Fitzgerald raised their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Piper Sandler restated an “overweight” rating and issued a $235.00 target price (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 given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.