Sylebra Capital Llc Sells 2,550 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) insider Sylebra Capital Llc sold 2,550 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $195.41, for a total value of $498,295.50. Following the completion of the sale, the insider now owns 2,129,260 shares in the company, valued at approximately $416,078,696.60. This represents a 0.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, November 11th, Sylebra Capital Llc sold 78,616 shares of Impinj stock. The shares were sold at an average price of $201.79, for a total transaction of $15,863,922.64.
• 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 shares were 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 value of $18,675,740.70.
• 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 purchased 4,264,393 shares of Impinj stock. The stock was bought at an average cost of $4.69 per share, with a total value of $20,000,003.17.

Impinj Price Performance

Shares of NASDAQ:PI opened at $176.51 on Friday. Impinj, Inc. has a 1 year low of $78.17 and a 1 year high of $239.88. The firm has a market capitalization of $4.99 billion, a PE ratio of 198.33 and a beta of 1.81. The business’s 50 day moving average price is $205.34 and its 200-day moving average price is $175.74.

Impinj (NASDAQ:PI) last announced its earnings results 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. The company had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm’s quarterly revenue was up 46.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.36) EPS. As a group, analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Evercore ISI reiterated an “outperform” rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Lake Street Capital increased their target price 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 restated an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj 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. Finally, Susquehanna boosted their price objective on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. One 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Institutional Trading of Impinj

Several large investors have recently bought and sold shares of the business. First Bank & Trust increased its stake in shares of Impinj by 3.2% in the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after acquiring an additional 55 shares during the last quarter. National Bank of Canada FI acquired a new stake in Impinj during the third quarter worth about $30,000. Farther Finance Advisors LLC raised its stake 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 purchasing an additional 141 shares during the period. KBC Group NV boosted its holdings in Impinj by 29.7% in the 3rd quarter. KBC Group NV now owns 681 shares of the company’s stock valued at $147,000 after purchasing an additional 156 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Impinj by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after buying an additional 190 shares during the period.

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.