Insider Selling: Impinj, Inc. (NASDAQ:PI) Major Shareholder Sells 78,616 Shares of Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 78,616 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $201.79, for a total transaction of $15,863,922.64. Following the completion of the transaction, the insider now directly owns 2,143,736 shares of the company’s stock, valued at $432,584,487.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Large 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, November 8th, Sylebra Capital Llc sold 250,000 shares of Impinj stock. The stock was 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 stock was 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 transaction of $6,257,255.85.
• On Friday, September 13th, Sylebra Capital Llc bought 4,264,393 shares of Impinj stock. The stock was purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17.

Impinj Trading Down 4.6 %

Shares of NASDAQ:PI opened at $185.76 on Thursday. Impinj, Inc. has a 12 month low of $75.83 and a 12 month high of $239.88. The company has a 50-day moving average price of $204.57 and a 200 day moving average price of $175.63. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 208.72 and a beta of 1.81.

Impinj (NASDAQ:PI) last announced its quarterly earnings results 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 net margin of 8.21% and a negative return on equity of 1.64%. The firm had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. During the same quarter last year, the firm earned ($0.36) EPS. The firm’s revenue for the quarter was up 46.5% compared to the same quarter last year. As a group, equities analysts forecast that Impinj, Inc. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PI. Susquehanna increased their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. Needham & Company LLC increased their price objective on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Evercore ISI reissued an “outperform” rating and set a $270.00 price objective (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Piper Sandler reissued an “overweight” rating and set a $235.00 price objective (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Finally, StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Impinj currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Institutional Trading of Impinj

Several institutional investors have recently added to or reduced their stakes in PI. SG Americas Securities LLC bought a new stake in Impinj in the first quarter worth about $513,000. Swiss National Bank lifted its stake in Impinj by 0.9% in the first quarter. Swiss National Bank now owns 45,400 shares of the company’s stock worth $5,830,000 after purchasing an additional 400 shares during the last quarter. ProShare Advisors LLC lifted its stake in Impinj by 8.5% in the first quarter. ProShare Advisors LLC now owns 4,194 shares of the company’s stock worth $539,000 after purchasing an additional 330 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Impinj in the first quarter worth about $9,659,000. Finally, Vanguard Group Inc. lifted its stake in Impinj by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after purchasing an additional 35,893 shares during the last quarter.

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.