Insider Selling: Impinj, Inc. (NASDAQ:PI) Major Shareholder Sells 95,670 Shares of Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc sold 95,670 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $195.21, for a total value of $18,675,740.70. Following the sale, the insider now directly owns 2,903,505 shares in the company, valued at $566,793,211.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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, November 1st, Sylebra Capital Llc sold 22,373 shares of Impinj stock. The shares were sold at an average price of $195.00, for a total value of $4,362,735.00.
• On Wednesday, October 30th, Sylebra Capital Llc sold 32,031 shares of Impinj stock. The shares were 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 purchased at an average price of $4.69 per share, for a total transaction of $20,000,003.17.

Impinj Price Performance

Shares of PI opened at $198.23 on Wednesday. Impinj, Inc. has a 1 year low of $66.54 and a 1 year high of $239.88. The stock has a 50 day simple moving average of $201.17 and a two-hundred day simple moving average of $173.32. The firm 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 announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $95.20 million during 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 firm’s revenue was up 46.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.36) EPS. On average, equities analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PI. SG Americas Securities LLC purchased a new position in shares of Impinj in the first quarter worth $513,000. TimesSquare Capital Management LLC purchased a new position in shares of Impinj in the first quarter valued at about $19,195,000. Harbor Capital Advisors Inc. raised its stake in shares of Impinj by 112.0% during the second quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock valued at $2,122,000 after acquiring an additional 7,151 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Impinj by 21.7% during the third quarter. Raymond James & Associates now owns 22,951 shares of the company’s stock worth $4,969,000 after purchasing an additional 4,090 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Impinj by 13.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock worth $7,990,000 after purchasing an additional 7,247 shares during the last quarter.

Wall Street Analyst Weigh In

PI has been the topic of several research analyst reports. The Goldman Sachs Group upped their price target on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Cantor Fitzgerald upped their target price on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Lake Street Capital lifted their price target on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Roth Mkm boosted their price objective on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Susquehanna raised their target price on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and an average target price of $224.60.

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.