Impinj, Inc. (NASDAQ:PI) Major Shareholder Sylebra Capital Llc Sells 32,031 Shares

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 32,031 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $195.35, for a total transaction of $6,257,255.85. Following the transaction, the insider now directly owns 3,021,548 shares of the company’s stock, valued at approximately $590,259,401.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 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 Friday, September 13th, Sylebra Capital Llc bought 4,264,393 shares of Impinj stock. The shares were purchased at an average price of $4.69 per share, for a total transaction of $20,000,003.17.

Impinj Trading Down 0.9 %

PI stock traded down $1.73 during mid-day trading on Thursday, hitting $189.99. The stock had a trading volume of 374,171 shares, compared to its average volume of 470,737. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of -542.83 and a beta of 1.80. The company has a fifty day moving average of $198.64 and a 200 day moving average of $170.87. Impinj, Inc. has a 1-year low of $59.64 and a 1-year high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 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 business 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 firm posted ($0.36) EPS. The firm’s revenue for the quarter was up 46.5% on a year-over-year basis. As a group, sell-side analysts expect that Impinj, Inc. will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Impinj

A number of institutional investors have recently made changes to their positions in PI. Farther Finance Advisors LLC grew its position in Impinj by 1,084.6% in 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 during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Impinj in the 3rd quarter valued at $54,000. SouthState Corp bought a new stake in shares of Impinj in the 2nd quarter worth about $94,000. nVerses Capital LLC increased its holdings in shares of Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after buying an additional 300 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. raised its position in Impinj by 211.2% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after purchasing an additional 549 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Cantor Fitzgerald upped their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Susquehanna increased their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday, October 21st. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Lake Street Capital lifted their target price on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price objective on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. 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 stock presently has a consensus rating of “Moderate Buy” and an average price target 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.