Impinj, Inc. (NASDAQ:PI) Major Shareholder Sylebra Capital Llc Sells 32,031 Shares

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 32,031 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $195.35, for a total value of $6,257,255.85. Following the completion of the transaction, the insider now owns 3,021,548 shares in the company, valued at $590,259,401.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, September 13th, Sylebra Capital Llc bought 4,264,393 shares of Impinj stock. The stock was acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17.

Impinj Stock Performance

Shares of Impinj stock traded down $1.73 during trading hours on Thursday, hitting $189.99. The company’s stock had a trading volume of 374,171 shares, compared to its average volume of 470,737. The business has a 50 day moving average price of $198.64 and a two-hundred day moving average price of $170.87. Impinj, Inc. has a 12-month low of $59.64 and a 12-month high of $239.88. The company has a market cap of $5.27 billion, a PE ratio of -542.83 and a beta of 1.80.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share 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 period in the previous year, the firm posted ($0.36) earnings per share. The firm’s revenue for the quarter was up 46.5% on a year-over-year basis. As a group, research analysts anticipate that Impinj, Inc. will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PI has been the topic of a number of recent analyst reports. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Susquehanna upped their price target on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday, October 21st. Cantor Fitzgerald upped their price objective on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Needham & Company LLC upped their price target on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price objective on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $224.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PI. Vanguard Group Inc. grew its position in shares of Impinj by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after acquiring an additional 35,893 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Impinj during the second quarter worth $103,252,000. Janus Henderson Group PLC increased its position in shares of Impinj by 0.6% during the first quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock worth $56,376,000 after acquiring an additional 2,681 shares during the period. Jennison Associates LLC purchased a new position in Impinj in the first quarter valued at $25,747,000. Finally, Renaissance Technologies LLC purchased a new position in Impinj in the second quarter valued at $30,116,000.

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.