Insider Selling: Impinj, Inc. (NASDAQ:PI) Major Shareholder Sells $15,863,922.64 in Stock

Posted by Bonnie Powley on Nov 15th, 2024

Impinj, Inc. (NASDAQ:PI – Get Free Report) major shareholder Sylebra Capital Llc sold 78,616 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $201.79, for a total value of $15,863,922.64. Following the sale, the insider now owns 2,143,736 shares in the company, valued at approximately $432,584,487.44. This trade represents a 3.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more 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 Wednesday, November 13th, Sylebra Capital Llc sold 2,550 shares of Impinj stock. The shares were sold at an average price of $195.41, for a total value of $498,295.50.
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 transaction of $18,675,740.70.
On Friday, November 1st, Sylebra Capital Llc sold 22,373 shares of Impinj stock. The stock was sold at an average price of $195.00, for a total transaction 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 acquired 4,264,393 shares of Impinj stock. The stock was acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17.

Impinj Trading Down 1.6 %

NASDAQ:PI opened at $182.73 on Friday. Impinj, Inc. has a twelve month low of $78.17 and a twelve month high of $239.88. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 205.31 and a beta of 1.81. The firm’s fifty day simple moving average is $204.99 and its 200 day simple moving average is $175.70.

Impinj (NASDAQ:PI – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company’s revenue for the quarter was up 46.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.36) earnings per share. On average, analysts predict that Impinj, Inc. will post 0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PI shares. Roth Mkm raised their price target on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Lake Street Capital raised their target price on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group upped their price target on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Cantor Fitzgerald increased their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $224.60.

Check Out Our Latest Research Report on PI

Institutional Investors Weigh In On Impinj

A number of large investors have recently added to or reduced their stakes in PI. Farther Finance Advisors LLC grew its stake in Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in Impinj during the 3rd quarter worth $54,000. SouthState Corp bought a new stake in shares of Impinj in the 2nd quarter worth about $94,000. nVerses Capital LLC raised its stake in shares of Impinj by 75.0% in the 2nd 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. Finally, Jamison Private Wealth Management Inc. lifted its position in shares of 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 purchasing an additional 549 shares during the last quarter.

Impinj Company Profile

(Get Free Report)

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.