Sylebra Capital Llc Sells 22,373 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 22,373 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.00, for a total transaction of $4,362,735.00. Following the completion of the sale, the insider now directly owns 2,999,175 shares in the company, valued at $584,839,125. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Sylebra Capital Llc also recently made the following trade(s):

• On Monday, November 4th, Sylebra Capital Llc sold 95,670 shares of Impinj stock. The stock was sold at an average price of $195.21, for a total value of $18,675,740.70.
• 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 transaction 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 Price Performance

Impinj stock opened at $198.03 on Thursday. Impinj, Inc. has a fifty-two week low of $66.54 and a fifty-two week high of $239.88. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 222.51 and a beta of 1.81. The firm has a fifty day moving average price of $201.87 and a two-hundred day moving average price of $173.49.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS 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 firm 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 earned ($0.36) EPS. The company’s revenue was up 46.5% on a year-over-year basis. As a group, sell-side analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on PI. Needham & Company LLC raised their price objective on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Susquehanna boosted their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Lake Street Capital lifted their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Piper Sandler reaffirmed an “overweight” rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Roth Mkm increased their target price on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Impinj currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.60.

Institutional Investors Weigh In On Impinj

Several large investors have recently modified their holdings of the business. Farther Finance Advisors LLC increased its holdings in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after buying an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Impinj during the third quarter worth approximately $54,000. SouthState Corp bought a new stake in shares of Impinj in the second quarter valued at approximately $94,000. nVerses Capital LLC lifted its position in shares of Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after acquiring an additional 300 shares during the period. Finally, Jamison Private Wealth Management Inc. raised its stake in Impinj by 211.2% in the second 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 in the last quarter.

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.