Insider Selling: Impinj, Inc. (NASDAQ:PI) Major Shareholder Sells 32,031 Shares of Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 32,031 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $195.35, for a total value of $6,257,255.85. Following the sale, the insider now owns 3,021,548 shares of the company’s stock, valued at $590,259,401.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock 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 acquired 4,264,393 shares of Impinj stock. The shares were bought at an average cost of $4.69 per share, with a total value of $20,000,003.17.

Impinj Trading Down 0.9 %

PI opened at $189.99 on Friday. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 213.47 and a beta of 1.80. The stock has a fifty day simple moving average of $199.27 and a two-hundred day simple moving average of $171.00. Impinj, Inc. has a 12-month low of $59.64 and a 12-month high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly 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. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same period last year, the business earned ($0.36) EPS. Impinj’s quarterly revenue was up 46.5% compared to the same quarter last year. On average, analysts predict that Impinj, Inc. will post 0.4 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Piper Sandler reiterated an “overweight” rating and set a $235.00 price target (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. Needham & Company LLC upped their price objective on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Evercore ISI restated an “outperform” rating and set a $270.00 price target (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Finally, The Goldman Sachs Group upped their price target on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. One equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Institutional Trading of Impinj

A number of hedge funds have recently made changes to their positions in PI. Vanguard Group Inc. increased its position in 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 buying an additional 35,893 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Impinj in the second quarter worth $103,252,000. Janus Henderson Group PLC increased its holdings 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 valued at $56,376,000 after acquiring an additional 2,681 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Impinj in the 1st quarter worth about $25,747,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Impinj in the 2nd quarter worth about $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.