Sylebra Capital Ltd Acquires 35,510 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Ltd bought 35,510 shares of the stock in a transaction on Thursday, November 16th. The shares were bought at an average price of $79.61 per share, with a total value of $2,826,951.10. Following the acquisition, the insider now owns 4,118,587 shares of the company’s stock, valued at $327,880,711.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Ltd also recently made the following trade(s):

• On Monday, November 13th, Sylebra Capital Ltd acquired 33,682 shares of Impinj stock. The stock was acquired at an average cost of $73.16 per share, with a total value of $2,464,175.12.
• On Thursday, August 31st, Sylebra Capital Ltd acquired 79,370 shares of Impinj stock. The stock was acquired at an average cost of $66.11 per share, with a total value of $5,247,150.70.
• On Tuesday, August 29th, Sylebra Capital Ltd acquired 28,579 shares of Impinj stock. The stock was acquired at an average cost of $63.27 per share, with a total value of $1,808,193.33.

Impinj Stock Performance

NASDAQ PI opened at $82.62 on Tuesday. The stock has a 50-day simple moving average of $60.58 and a two-hundred day simple moving average of $74.80. The firm has a market capitalization of $2.24 billion, a P/E ratio of -77.94 and a beta of 2.05. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $144.90. The company has a debt-to-equity ratio of 8.09, a quick ratio of 4.92 and a current ratio of 8.09.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, October 25th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.20. The business had revenue of $65.01 million during the quarter, compared to analyst estimates of $64.73 million. Impinj had a negative return on equity of 47.86% and a negative net margin of 9.03%. On average, equities analysts forecast that Impinj, Inc. will post -1.1 earnings per share for the current year.

Hedge Funds Weigh In On Impinj

Institutional investors and hedge funds have recently modified their holdings of the business. C M Bidwell & Associates Ltd. purchased a new position in shares of Impinj in the 1st quarter valued at about $39,000. Advisors Asset Management Inc. purchased a new position in shares of Impinj in the 1st quarter valued at about $39,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Impinj in the 3rd quarter valued at about $55,000. Asset Management One Co. Ltd. increased its stake in shares of Impinj by 74.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock valued at $67,000 after purchasing an additional 524 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Impinj by 65.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 832 shares of the company’s stock worth $75,000 after buying an additional 329 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PI shares. StockNews.com raised Impinj to a “sell” rating in a research report on Thursday, October 26th. Roth Mkm lowered their price objective on Impinj from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. Needham & Company LLC restated a “buy” rating and issued a $85.00 target price on shares of Impinj in a research note on Thursday, October 26th. Lake Street Capital reduced their target price on Impinj from $130.00 to $90.00 in a research note on Thursday, July 27th. Finally, The Goldman Sachs Group reduced their target price on Impinj from $101.00 to $89.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.25.

About Impinj

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.