Impinj (NASDAQ:PI) Director Sylebra Capital Llc Sells 49,691 Shares of Stock

Impinj, Inc. (NASDAQ:PI) Director Sylebra Capital Llc sold 49,691 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $185.23, for a total value of $9,204,263.93. Following the completion of the sale, the director owned 726,252 shares of the company’s stock, valued at $134,523,657.96. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Sylebra Capital Llc also recently made the following trade(s):

• On Wednesday, November 4th, Sylebra Capital Llc sold 40,500 shares of Impinj stock. The shares were sold at an average price of $184.23, for a total value of $7,461,315.00.

Impinj Stock Down 10.7%

Shares of NASDAQ:PI opened at $161.06 on Friday. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 375.62 and a beta of 1.90. Impinj, Inc. has a 1-year low of $87.36 and a 1-year high of $215.25. The company’s fifty day moving average is $178.07 and its two-hundred day moving average is $144.34. The company has a debt-to-equity ratio of 0.61, a quick ratio of 7.07 and a current ratio of 9.42.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.61 by $0.08. Impinj had a negative net margin of 2.45% and a positive return on equity of 6.65%. The business had revenue of $112.08 million during the quarter, compared to analyst estimates of $107.16 million. During the same period in the previous year, the business posted $0.58 EPS. The company’s quarterly revenue was up 16.7% on a year-over-year basis. Equities analysts anticipate that Impinj, Inc. will post 0.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PI shares. Barclays increased their price target on Impinj from $200.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday. Susquehanna boosted their price objective on Impinj from $175.00 to $225.00 and gave the company a “positive” rating in a research report on Thursday, October 29th. Jefferies Financial Group upped their price objective on Impinj from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Weiss Ratings restated a “sell (d)” rating on shares of Impinj in a research note on Wednesday, October 28th. Finally, UBS Group increased their target price on Impinj from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $196.10.

Institutional Trading of Impinj

Several hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp increased its stake in shares of Impinj by 1.3% during the third quarter. Fifth Third Bancorp now owns 8,871 shares of the company’s stock valued at $1,591,000 after acquiring an additional 118 shares during the period. Maryland State Retirement & Pension System lifted its position in Impinj by 63.4% in the third quarter. Maryland State Retirement & Pension System now owns 6,468 shares of the company’s stock worth $1,160,000 after purchasing an additional 2,509 shares during the period. Lisanti Capital Growth LLC lifted its position in Impinj by 462.0% in the third quarter. Lisanti Capital Growth LLC now owns 31,445 shares of the company’s stock worth $5,638,000 after purchasing an additional 25,850 shares during the period. Riverbridge Partners LLC lifted its position in Impinj by 4.0% in the third quarter. Riverbridge Partners LLC now owns 58,290 shares of the company’s stock worth $10,451,000 after purchasing an additional 2,262 shares during the period. Finally, Ethic Inc. bought a new position in Impinj during the 3rd quarter valued at $252,000.

Impinj Company Profile

Impinj, Inc (NASDAQ: PI) develops technology for the Internet of Things (IoT) based on RAIN RFID, a wireless technology used to identify, locate and authenticate individual items. Its platform is designed to connect physical products, packages and assets to digital systems, helping organizations collect real-time information throughout supply chains and business operations.

The company offers a portfolio of RAIN RFID endpoint integrated circuits, reader chips, RFID readers and gateways, antennas, and cloud and software solutions.