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 business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 2,143,736 shares in the company, valued at $432,584,487.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 stock was 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 shares were 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 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 bought 4,264,393 shares of Impinj stock. The stock was purchased at an average price of $4.69 per share, for a total transaction of $20,000,003.17.

Impinj Stock Down 2.3 %

Impinj stock opened at $194.64 on Wednesday. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 218.70 and a beta of 1.81. Impinj, Inc. has a 12-month low of $69.50 and a 12-month high of $239.88. The business’s 50-day simple moving average is $203.93 and its 200 day simple moving average is $175.32.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Impinj by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after acquiring an additional 35,893 shares during the period. Assenagon Asset Management S.A. bought a new stake in Impinj in the second quarter valued at approximately $103,252,000. Janus Henderson Group PLC raised its holdings in Impinj by 0.6% in the first quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock worth $56,376,000 after purchasing an additional 2,681 shares during the period. Jennison Associates LLC boosted its position in shares of Impinj by 15.0% during the third quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock worth $51,779,000 after purchasing an additional 31,269 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Impinj by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock valued at $41,840,000 after buying an additional 6,232 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PI. Roth Mkm upped their price objective on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. The Goldman Sachs Group increased 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. Cantor Fitzgerald lifted their price objective on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Needham & Company LLC increased their target price on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Impinj has a consensus rating of “Moderate Buy” and an average target price 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.