Insider Selling: Impinj, Inc. (NASDAQ:PI) Major Shareholder Sells 78,616 Shares of Stock

Impinj, Inc. (NASDAQ:PI - Get Free Report) major shareholder Sylebra Capital Llc sold 78,616 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $201.79, for a total value of $15,863,922.64. Following the sale, the insider now directly owns 2,143,736 shares in the company, valued at $432,584,487.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• 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 shares were 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 transaction 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 bought 4,264,393 shares of Impinj stock. The shares were bought at an average cost of $4.69 per share, for a total transaction of $20,000,003.17.

Impinj Trading Down 2.3 %

Shares of PI stock traded down $4.66 on Tuesday, reaching $194.64. 312,090 shares of the company's stock were exchanged, compared to its average volume of 474,106. The stock has a market capitalization of $5.51 billion, a PE ratio of 223.93 and a beta of 1.81. Impinj, Inc. has a 52 week low of $69.50 and a 52 week high of $239.88. The company's fifty day simple moving average is $203.93 and its 200 day simple moving average is $175.32.

Impinj (NASDAQ:PI - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. During the same period in the prior year, the business posted ($0.36) EPS. The company's revenue for the quarter was up 46.5% on a year-over-year basis. As a group, sell-side analysts predict that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PI has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price target on shares of Impinj from $165.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, October 25th. Cantor Fitzgerald lifted their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Needham & Company LLC increased their price target on shares of Impinj from $195.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Piper Sandler restated an "overweight" rating and set a $235.00 price target (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Finally, Lake Street Capital boosted their target price on Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $224.60.

Hedge Funds Weigh In On Impinj

A number of large investors have recently made changes to their positions in PI. Farther Finance Advisors LLC increased its stake in shares of Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock valued at $33,000 after buying an additional 141 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj in the third quarter valued at about $54,000. SouthState Corp acquired a new position in Impinj in the second quarter valued at approximately $94,000. nVerses Capital LLC grew its stake in shares of Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company's stock worth $110,000 after purchasing an additional 300 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. raised its stake in shares of Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company's stock worth $127,000 after purchasing an additional 549 shares during the last quarter.

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.