Impinj, Inc. (NASDAQ:PI) Major Shareholder Purchases $20,000,003.17 in Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc acquired 4,264,393 shares of Impinj stock in a transaction on Friday, September 13th. The shares were bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the transaction, the insider now directly owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Impinj Stock Up 1.4 %

PI stock traded up $2.61 during mid-day trading on Monday, hitting $188.53. 287,286 shares of the company were exchanged, compared to its average volume of 429,296. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $190.09. The firm has a market capitalization of $5.30 billion, a P/E ratio of -531.20 and a beta of 1.78. The business has a fifty day simple moving average of $162.58 and a 200-day simple moving average of $149.60.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. During the same period last year, the business earned ($0.14) earnings per share. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. Research analysts predict that Impinj, Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Susquehanna increased their target price on shares of Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 target price on shares of Impinj in a research report on Thursday, July 25th. Piper Sandler increased their target price on shares of Impinj from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Lake Street Capital raised their price objective on shares of Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group cut shares of Impinj from a “buy” rating to a “neutral” rating and set a $156.00 price objective for the company. in a research report on Monday, May 20th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Impinj presently has an average rating of “Moderate Buy” and an average target price of $187.10.

Institutional Investors Weigh In On Impinj

A number of institutional investors have recently made changes to their positions in PI. Hsbc Holdings PLC grew its holdings in shares of 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 purchasing an additional 190 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Impinj by 0.8% in the second quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock valued at $5,158,000 after purchasing an additional 248 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj in the first quarter valued at approximately $32,000. Arizona State Retirement System grew its holdings in shares of Impinj by 4.1% in the second quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock valued at $1,032,000 after purchasing an additional 261 shares in the last quarter. Finally, nVerses Capital LLC grew its holdings 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 purchasing an additional 300 shares in the last quarter.

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.