Insider Selling: Impinj, Inc. (NASDAQ:PI) Major Shareholder Sells 22,373 Shares of Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 22,373 shares of Impinj stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $195.00, for a total transaction of $4,362,735.00. Following the sale, the insider now owns 2,999,175 shares of the company’s stock, valued at approximately $584,839,125. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% 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 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 transaction of $18,675,740.70.
• 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 transaction of $6,257,255.85.
• On Friday, September 13th, Sylebra Capital Llc bought 4,264,393 shares of Impinj stock. The stock was bought at an average cost of $4.69 per share, for a total transaction of $20,000,003.17.

Impinj Trading Up 2.8 %

NASDAQ PI opened at $198.23 on Wednesday. The company’s fifty day simple moving average is $201.17 and its 200-day simple moving average is $173.32. Impinj, Inc. has a 52 week low of $66.54 and a 52 week high of $239.88. The stock has a market cap of $5.61 billion, a P/E ratio of 222.73 and a beta of 1.81.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business’s revenue for the quarter was up 46.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.36) earnings per share. On average, research analysts expect that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PI. Needham & Company LLC raised their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Lake Street Capital lifted their price target on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald lifted their price target on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Institutional Trading of Impinj

Several institutional investors have recently added to or reduced their stakes in the stock. First Bank & Trust raised its holdings in Impinj by 3.2% in the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock valued at $383,000 after acquiring an additional 55 shares in the last quarter. Farther Finance Advisors LLC raised its holdings 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 worth $33,000 after purchasing an additional 141 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Impinj by 7.3% during the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after purchasing an additional 190 shares during the period. Rhumbline Advisers raised its holdings in shares of Impinj by 0.8% during the second quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after purchasing an additional 248 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj during the third quarter worth $54,000.

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.