Impinj, Inc. (NASDAQ:PI) Major Shareholder Sylebra Capital Llc Buys 4,264,393 Shares

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc purchased 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The stock was acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Impinj Price Performance

NASDAQ:PI traded up $2.61 during trading hours on Monday, hitting $188.53. 287,286 shares of the company were exchanged, compared to its average volume of 429,296. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of -531.20 and a beta of 1.78. Impinj, Inc. has a 52-week low of $48.39 and a 52-week high of $190.09. The company’s 50 day moving average price is $162.58 and its 200-day moving average price is $149.60.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The company had revenue of $102.50 million for the quarter, compared to the consensus estimate of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. Impinj’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.14) EPS. On average, equities analysts predict that Impinj, Inc. will post 0.31 earnings per share for the current year.

Institutional Trading of Impinj

Large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Impinj by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,847 shares of the company’s stock valued at $16,282,000 after acquiring an additional 6,810 shares during the last quarter. Ghisallo Capital Management LLC purchased a new stake in Impinj during the fourth quarter worth $4,192,000. Eagle Asset Management Inc. boosted its holdings in Impinj by 19.6% during the fourth quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock worth $18,435,000 after buying an additional 33,504 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Impinj during the first quarter worth $513,000. Finally, TimesSquare Capital Management LLC purchased a new stake in Impinj during the first quarter worth $19,195,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $195.00 price target on shares of Impinj in a report on Thursday, July 25th. The Goldman Sachs Group lowered shares of Impinj from a “buy” rating to a “neutral” rating and set a $156.00 price objective for the company. in a research note on Monday, May 20th. Piper Sandler boosted their price objective on shares of Impinj from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $205.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Finally, Susquehanna boosted their price objective on shares of Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Impinj presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.10.

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.