Impinj, Inc. (NASDAQ:PI) Major Shareholder Sylebra Capital Ltd Sells 34,988 Shares of Stock

Impinj, Inc. (NASDAQ:PIGet Rating) major shareholder Sylebra Capital Ltd sold 34,988 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $112.50, for a total value of $3,936,150.00. Following the completion of the sale, the insider now owns 3,078,949 shares of the company’s stock, valued at approximately $346,381,762.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Thursday, November 17th, Sylebra Capital Ltd sold 100,570 shares of Impinj stock. The shares were sold at an average price of $110.85, for a total value of $11,148,184.50.
  • On Tuesday, November 15th, Sylebra Capital Ltd sold 64,911 shares of Impinj stock. The shares were sold at an average price of $116.33, for a total value of $7,551,096.63.

Impinj Trading Up 6.5 %

Shares of PI opened at $119.74 on Wednesday. The stock has a 50 day moving average of $94.97 and a 200-day moving average of $77.56. The company has a current ratio of 7.73, a quick ratio of 6.78 and a debt-to-equity ratio of 135.78. Impinj, Inc. has a 52 week low of $39.74 and a 52 week high of $119.99.

Impinj (NASDAQ:PIGet Rating) last issued its earnings results on Wednesday, October 26th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.17. The company had revenue of $68.27 million during the quarter, compared to analyst estimates of $64.67 million. Impinj had a negative return on equity of 236.49% and a negative net margin of 18.91%. As a group, sell-side analysts expect that Impinj, Inc. will post -0.69 EPS for the current year.

Institutional Trading of Impinj

Hedge funds have recently added to or reduced their stakes in the business. Advisory Research Inc. raised its stake in shares of Impinj by 40.8% in the 3rd quarter. Advisory Research Inc. now owns 95,906 shares of the company’s stock worth $7,675,000 after buying an additional 27,783 shares in the last quarter. Alpha DNA Investment Management LLC bought a new stake in shares of Impinj in the 3rd quarter worth $490,000. Balyasny Asset Management LLC bought a new stake in shares of Impinj in the 3rd quarter worth $8,334,000. BNP Paribas Arbitrage SNC raised its stake in shares of Impinj by 250.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 30,420 shares of the company’s stock worth $2,435,000 after buying an additional 21,751 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of Impinj by 18.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 96,849 shares of the company’s stock worth $7,751,000 after buying an additional 14,811 shares in the last quarter. Institutional investors own 91.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PI shares. Canaccord Genuity Group increased their target price on Impinj from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, October 28th. The Goldman Sachs Group increased their target price on Impinj from $89.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 27th. Piper Sandler raised their price objective on Impinj from $100.00 to $120.00 in a research note on Thursday, October 27th. Lake Street Capital raised their price objective on Impinj from $94.00 to $109.00 in a research note on Thursday, October 27th. Finally, Needham & Company LLC raised their price objective on Impinj from $102.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, October 27th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.00.

Impinj Company Profile

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Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

Further Reading

Insider Buying and Selling by Quarter for Impinj (NASDAQ:PI)

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