Impinj, Inc. (NASDAQ:PI) Major Shareholder Sells $18,675,740.70 in Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 95,670 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $195.21, for a total value of $18,675,740.70. Following the completion of the transaction, the insider now owns 2,903,505 shares of the company’s stock, valued at $566,793,211.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more 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 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 stock was sold at an average price of $195.35, for a total value of $6,257,255.85.
• On Friday, September 13th, Sylebra Capital Llc acquired 4,264,393 shares of Impinj stock. The shares were bought at an average price of $4.69 per share, with a total value of $20,000,003.17.

Impinj Price Performance

Shares of PI stock traded up $5.32 during trading on Tuesday, hitting $198.23. 615,834 shares of the stock traded hands, compared to its average volume of 470,713. The firm has a market capitalization of $5.61 billion, a P/E ratio of 222.73 and a beta of 1.81. The firm’s fifty day moving average price is $201.17 and its 200-day moving average price is $173.32. Impinj, Inc. has a 52-week low of $66.54 and a 52-week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. The firm 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%. The business’s revenue for the quarter 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, equities research analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current year.

Institutional Trading of Impinj

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in Impinj by 25.1% in the third quarter. Victory Capital Management Inc. now owns 19,462 shares of the company’s stock valued at $4,214,000 after purchasing an additional 3,900 shares during the period. Verus Capital Partners LLC purchased a new stake in shares of Impinj during the third quarter worth $204,000. GSA Capital Partners LLP increased its position in shares of Impinj by 26.6% during the third quarter. GSA Capital Partners LLP now owns 3,401 shares of the company’s stock worth $736,000 after acquiring an additional 714 shares during the period. Entropy Technologies LP increased its position in shares of Impinj by 9.3% during the third quarter. Entropy Technologies LP now owns 4,724 shares of the company’s stock worth $1,023,000 after acquiring an additional 400 shares during the period. Finally, Los Angeles Capital Management LLC increased its position in shares of Impinj by 210.2% during the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock worth $1,855,000 after acquiring an additional 5,807 shares during the period.

Analyst Ratings Changes

PI has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price objective on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Piper Sandler reiterated an “overweight” rating and set a $235.00 price objective (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Cantor Fitzgerald lifted their price objective on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Evercore ISI restated an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Lake Street Capital lifted their price objective on Impinj from $190.00 to $251.00 and gave the stock a “buy” 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 issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

About Impinj

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.