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

Impinj, Inc. (NASDAQ:PI) insider Sylebra Capital Llc sold 2,550 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was 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 $416,078,696.60. The trade was a 0.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 stock was sold at an average price of $201.79, for a total value 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 value 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 value 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 stock was 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 acquired 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 traded down $2.17 during midday trading on Friday, hitting $180.56. The company had a trading volume of 24,288 shares, compared to its average volume of 471,648. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of 205.31 and a beta of 1.81. Impinj, Inc. has a twelve month low of $78.17 and a twelve month high of $239.88. The business’s 50-day simple moving average is $204.99 and its 200-day simple moving average is $175.70.

Impinj (NASDAQ:PI) last released 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 analyst estimates of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company’s quarterly revenue was up 46.5% on a year-over-year basis. During the same period last year, the business posted ($0.36) earnings per share. As a group, sell-side analysts forecast that Impinj, Inc. will post 0.4 EPS for the current year.

Analysts Set New Price Targets

PI has been the subject of a number of analyst reports. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Needham & Company LLC increased their target price on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Lake Street Capital increased their target price on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group increased their target price on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Piper Sandler reissued an “overweight” rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. 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 data from MarketBeat, Impinj presently has an average rating of “Moderate Buy” and an average price target of $224.60.

Institutional Trading of Impinj

Hedge funds and other institutional investors have recently bought and sold shares of the business. PDT Partners LLC purchased a new position in shares of Impinj during the third quarter worth about $2,413,000. Fred Alger Management LLC increased its holdings in shares of Impinj by 16.9% during the 3rd quarter. Fred Alger Management LLC now owns 121,117 shares of the company’s stock worth $26,224,000 after buying an additional 17,515 shares during the last quarter. Captrust Financial Advisors boosted its position in Impinj by 2.2% during the 3rd quarter. Captrust Financial Advisors now owns 13,170 shares of the company’s stock worth $2,852,000 after purchasing an additional 284 shares during the period. Public Sector Pension Investment Board purchased a new position in Impinj in the 3rd quarter valued at about $10,458,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Impinj by 5.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,406 shares of the company’s stock valued at $1,171,000 after purchasing an additional 262 shares in 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.