Impinj, Inc. (NASDAQ:PI) Major Shareholder Sylebra Capital Llc Sells 95,670 Shares

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 95,670 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $195.21, for a total value of $18,675,740.70. Following the sale, the insider now directly owns 2,903,505 shares of the company’s stock, valued at $566,793,211.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own 10% or more 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 Friday, November 1st, Sylebra Capital Llc sold 22,373 shares of Impinj stock. The shares were sold at an average price of $195.00, for a total value 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 Price Performance

Shares of PI traded up $5.32 during mid-day trading on Tuesday, reaching $198.23. 615,834 shares of the company’s stock traded hands, compared to its average volume of 470,713. The stock has a market cap of $5.61 billion, a P/E ratio of 222.73 and a beta of 1.81. The stock’s 50-day moving average is $201.17 and its two-hundred day moving average is $173.32. Impinj, Inc. has a 12 month low of $66.54 and a 12 month high of $239.88.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PI. Assenagon Asset Management S.A. bought a new stake in Impinj during the 2nd quarter valued at $103,252,000. Jennison Associates LLC purchased a new stake in shares of Impinj during the 1st quarter valued at $25,747,000. Renaissance Technologies LLC purchased a new stake in shares of Impinj during the 2nd quarter valued at $30,116,000. TimesSquare Capital Management LLC purchased a new stake in shares of Impinj during the 1st quarter valued at $19,195,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Impinj by 4,013.7% during the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after purchasing an additional 122,579 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently weighed in on PI. Cantor Fitzgerald upped their price objective on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Evercore ISI reiterated an “outperform” rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Needham & Company LLC upped 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. Finally, Roth Mkm upped their price objective on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. 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 data from MarketBeat.com, Impinj presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

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.