Insider Selling: Impinj (NASDAQ:PI) Director Sells 40,500 Shares of Company Stock

Impinj, Inc. (NASDAQ:PI) Director Sylebra Capital Llc sold 40,500 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $184.23, for a total transaction of $7,461,315.00. Following the transaction, the director directly owned 685,752 shares in the company, valued at $126,336,090.96. The trade was a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, November 3rd, Sylebra Capital Llc sold 49,691 shares of Impinj stock. The stock was sold at an average price of $185.23, for a total transaction of $9,204,263.93.

Impinj Stock Down 10.7%

PI stock traded down $19.27 during trading on Thursday, reaching $161.03. The stock had a trading volume of 341,657 shares, compared to its average volume of 527,509. The company has a quick ratio of 7.07, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of -487.95 and a beta of 1.90. Impinj, Inc. has a one year low of $87.36 and a one year high of $215.25. The company’s 50 day moving average is $178.03 and its two-hundred day moving average is $144.34.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, October 28th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.61 by $0.08. Impinj had a negative net margin of 2.45% and a positive return on equity of 6.65%. The firm had revenue of $112.08 million for the quarter, compared to analysts’ expectations of $107.16 million. During the same quarter last year, the firm earned $0.58 EPS. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. Equities research analysts forecast that Impinj, Inc. will post 0.59 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on PI shares. Zacks Research lowered Impinj from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Wall Street Zen upgraded Impinj from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. UBS Group raised their target price on Impinj from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Impinj in a research report on Wednesday, October 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of Impinj in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Impinj currently has an average rating of “Moderate Buy” and a consensus target price of $196.10.

Institutional Investors Weigh In On Impinj

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Impinj in the second quarter valued at approximately $637,286,000. The Manufacturers Life Insurance Company bought a new position in Impinj during the second quarter valued at $95,867,000. William Blair Investment Management LLC purchased a new stake in Impinj in the second quarter worth $42,514,000. AWM Investment Company Inc. purchased a new stake in Impinj in the second quarter worth $29,651,000. Finally, Bank of New York Mellon Corp purchased a new stake in Impinj in the second quarter worth $23,191,000.

About Impinj

Impinj, Inc (NASDAQ: PI) develops technology for the Internet of Things (IoT) based on RAIN RFID, a wireless technology used to identify, locate and authenticate individual items. Its platform is designed to connect physical products, packages and assets to digital systems, helping organizations collect real-time information throughout supply chains and business operations.

The company offers a portfolio of RAIN RFID endpoint integrated circuits, reader chips, RFID readers and gateways, antennas, and cloud and software solutions.