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 the company’s stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the acquisition, the insider now directly owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Impinj Stock Performance

NASDAQ PI opened at $193.90 on Thursday. Impinj, Inc. has a one year low of $48.39 and a one year high of $198.00. The firm has a 50 day simple moving average of $164.16 and a 200-day simple moving average of $150.97. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of -554.00 and a beta of 1.78.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $97.47 million. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. Equities analysts predict that Impinj, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PI has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Impinj from $150.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Roth Mkm increased their price objective on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $195.00 target price on shares of Impinj in a research report on Thursday, July 25th. Susquehanna increased their price target on Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Finally, StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $187.10.

Institutional Investors Weigh In On Impinj

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in Impinj by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,847 shares of the company’s stock worth $16,282,000 after acquiring an additional 6,810 shares in the last quarter. Level Four Advisory Services LLC acquired a new position in shares of Impinj during the fourth quarter worth $478,000. UBS Group AG increased its holdings in Impinj by 0.7% in the fourth quarter. UBS Group AG now owns 91,409 shares of the company’s stock valued at $8,230,000 after buying an additional 637 shares during the last quarter. Coldstream Capital Management Inc. acquired a new stake in Impinj in the fourth quarter valued at $269,000. Finally, Trexquant Investment LP acquired a new stake in Impinj in the fourth quarter valued at $1,569,000.

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.