Impinj, Inc. (NASDAQ:PI) Major Shareholder Sells $18,121,660.02 in Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 89,809 shares of Impinj stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $201.78, for a total transaction of $18,121,660.02. Following the transaction, the insider now directly owns 2,607,543 shares of the company’s stock, valued at $526,150,026.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 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 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 transaction 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 transaction of $6,257,255.85.
• On Friday, September 13th, Sylebra Capital Llc bought 4,264,393 shares of Impinj stock. The shares were purchased at an average cost of $4.69 per share, for a total transaction of $20,000,003.17.

Impinj Stock Up 2.5 %

Shares of NASDAQ PI traded up $4.96 during midday trading on Thursday, hitting $202.99. The company had a trading volume of 682,618 shares, compared to its average volume of 472,689. The business has a 50-day simple moving average of $202.60 and a two-hundred day simple moving average of $173.70. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 228.08 and a beta of 1.81. Impinj, Inc. has a twelve month low of $67.37 and a twelve month high of $239.88.

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. 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 for the quarter, compared to analyst estimates of $92.86 million. During the same quarter in the prior year, the company earned ($0.36) EPS. Impinj’s revenue was up 46.5% on a year-over-year basis. On average, equities analysts forecast that Impinj, Inc. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

PI has been the subject of several recent research reports. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. The Goldman Sachs Group raised their price target on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Needham & Company LLC upped their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Lake Street Capital increased their target price on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Institutional Trading of Impinj

Hedge funds have recently bought and sold shares of the company. First Bank & Trust boosted its position in shares of Impinj by 3.2% in the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after acquiring an additional 55 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of 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 buying an additional 141 shares during the period. KBC Group NV raised its position in shares of Impinj by 29.7% in the 3rd quarter. KBC Group NV now owns 681 shares of the company’s stock worth $147,000 after buying an additional 156 shares during the period. Hsbc Holdings PLC boosted its holdings in Impinj by 7.3% in the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after acquiring an additional 190 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Impinj by 0.8% during the second quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock valued at $5,158,000 after acquiring an additional 248 shares during the period.

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.