Impinj, Inc. (NASDAQ:PI) Major Shareholder Sylebra Capital Llc Sells 22,373 Shares

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 22,373 shares of Impinj stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $195.00, for a total transaction of $4,362,735.00. Following the completion of the transaction, the insider now owns 2,999,175 shares of the company’s stock, valued at $584,839,125. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases 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 transaction of $18,675,740.70.
• 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 cost of $4.69 per share, for a total transaction of $20,000,003.17.

Impinj Stock Performance

NASDAQ PI traded up $5.32 during trading hours on Tuesday, hitting $198.23. The company had a trading volume of 615,834 shares, compared to its average volume of 470,713. Impinj, Inc. has a 1-year low of $66.54 and a 1-year high of $239.88. The company has a market cap of $5.61 billion, a PE ratio of 222.73 and a beta of 1.81. The business has a 50 day moving average of $201.17 and a 200-day moving average of $173.32.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. Impinj’s revenue for the quarter was up 46.5% on a year-over-year basis. Sell-side analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Impinj

Large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased 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 worth $33,000 after purchasing an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Impinj during the 3rd quarter worth approximately $54,000. SouthState Corp purchased a new position in shares of Impinj during the 2nd quarter worth approximately $94,000. nVerses Capital LLC increased its stake in shares of Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after purchasing an additional 300 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. boosted 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 acquiring an additional 549 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PI. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. The Goldman Sachs Group upped their price objective on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Needham & Company LLC upped their price objective on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Lake Street Capital boosted their target price on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Piper Sandler reiterated an “overweight” rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a research note 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 given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.