Impinj, Inc. (NASDAQ:PI) Major Shareholder Sells $15,863,922.64 in Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 78,616 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $201.79, for a total value of $15,863,922.64. Following the transaction, the insider now directly owns 2,143,736 shares of the company’s stock, valued at approximately $432,584,487.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% 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, 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 stock was 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 Friday, November 1st, Sylebra Capital Llc sold 22,373 shares of Impinj stock. The stock was 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 transaction of $6,257,255.85.
• On Friday, September 13th, Sylebra Capital Llc acquired 4,264,393 shares of Impinj stock. The stock was acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17.

Impinj Stock Performance

Shares of PI traded down $0.96 on Tuesday, hitting $198.34. 45,692 shares of the stock traded hands, compared to its average volume of 471,878. Impinj, Inc. has a one year low of $69.50 and a one year high of $239.88. The company has a market capitalization of $5.61 billion, a PE ratio of 223.93 and a beta of 1.81. The business has a 50 day simple moving average of $203.93 and a 200 day simple moving average of $175.32.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share 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 analysts’ expectations of $92.86 million. During the same quarter in the previous year, the business earned ($0.36) earnings per share. The company’s revenue was up 46.5% on a year-over-year basis. On average, equities analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PI shares. Evercore ISI restated an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Roth Mkm raised their target price on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Cantor Fitzgerald raised their target price on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Finally, Needham & Company LLC lifted their price objective on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $224.60.

Hedge Funds Weigh In On Impinj

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Impinj during the 1st quarter worth approximately $513,000. Swiss National Bank raised its holdings in shares of Impinj by 0.9% during the 1st quarter. Swiss National Bank now owns 45,400 shares of the company’s stock worth $5,830,000 after acquiring an additional 400 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Impinj by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 4,194 shares of the company’s stock worth $539,000 after acquiring an additional 330 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Impinj during the 1st quarter worth approximately $9,659,000. Finally, Vanguard Group Inc. raised its holdings in shares of Impinj by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after acquiring an additional 35,893 shares in the last quarter.

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.