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

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 78,616 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $201.79, for a total transaction of $15,863,922.64. Following the sale, the insider now directly owns 2,143,736 shares of the company’s stock, valued at $432,584,487.44. This 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. Major 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 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 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 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 stock was bought at an average cost of $4.69 per share, with a total value of $20,000,003.17.

Impinj Stock Down 2.3 %

Shares of Impinj stock opened at $194.64 on Wednesday. Impinj, Inc. has a 12-month low of $69.50 and a 12-month high of $239.88. The stock has a market capitalization of $5.51 billion, a P/E ratio of 218.70 and a beta of 1.81. The stock has a 50 day moving average price of $203.93 and a two-hundred day moving average price of $175.32.

Impinj (NASDAQ:PI) last posted its 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 for the quarter, compared to analyst estimates of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. Impinj’s revenue was up 46.5% compared to the same quarter last year. During the same period last year, the business posted ($0.36) EPS. Sell-side analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

Hedge Funds Weigh In On Impinj

Several large investors have recently made changes to their positions in PI. Farther Finance Advisors LLC raised its stake in Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Impinj during the 3rd quarter worth about $54,000. SouthState Corp acquired a new position in shares of Impinj during the second quarter valued at about $94,000. nVerses Capital LLC lifted its stake in shares of Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after buying an additional 300 shares during the period. Finally, Jamison Private Wealth Management Inc. grew its position in Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after buying an additional 549 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PI shares. Piper Sandler reiterated an “overweight” rating and issued a $235.00 target price (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Cantor Fitzgerald increased their price objective on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Roth Mkm boosted 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. Susquehanna raised their price target on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Finally, StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently 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.