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

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 32,031 shares of Impinj stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $195.35, for a total value of $6,257,255.85. Following the completion of the sale, the insider now owns 3,021,548 shares in the company, valued at approximately $590,259,401.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large 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 Friday, September 13th, Sylebra Capital Llc bought 4,264,393 shares of Impinj stock. The shares were bought at an average price of $4.69 per share, for a total transaction of $20,000,003.17.

Impinj Stock Up 2.5 %

Shares of NASDAQ PI opened at $194.71 on Friday. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 218.78 and a beta of 1.80. Impinj, Inc. has a 52-week low of $62.84 and a 52-week high of $239.88. The business’s 50 day moving average is $199.89 and its two-hundred day moving average is $171.53.

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

Wall Street Analyst Weigh In

PI has been the topic of several recent research reports. Needham & Company LLC boosted 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. Piper Sandler restated an “overweight” rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. Roth Mkm boosted their target price on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Cantor Fitzgerald boosted their target price on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Susquehanna boosted their target price on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $224.60.

Hedge Funds Weigh In On Impinj

Several institutional investors have recently modified their holdings of PI. Principal Financial Group Inc. grew its stake in shares of Impinj by 16.9% during the first quarter. Principal Financial Group Inc. now owns 3,137 shares of the company’s stock worth $403,000 after purchasing an additional 454 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Impinj by 13.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock worth $7,990,000 after purchasing an additional 7,247 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Impinj during the first quarter worth $25,747,000. SG Americas Securities LLC acquired a new position in shares of Impinj during the first quarter worth $513,000. Finally, TimesSquare Capital Management LLC acquired a new position in shares of Impinj during the first quarter worth $19,195,000.

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.