Insider Selling: Impinj, Inc. (NASDAQ:PI) Insider Sells $498,295.50 in Stock

Impinj, Inc. (NASDAQ:PI) insider Sylebra Capital Llc sold 2,550 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $195.41, for a total value of $498,295.50. Following the completion of the sale, the insider now owns 2,129,260 shares in the company, valued at approximately $416,078,696.60. This represents a 0.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, November 11th, Sylebra Capital Llc sold 78,616 shares of Impinj stock. The shares were sold at an average price of $201.79, for a total transaction of $15,863,922.64.
• On Friday, November 8th, Sylebra Capital Llc sold 250,000 shares of Impinj stock. The shares were sold at an average price of $203.00, for a total transaction of $50,750,000.00.
• On Wednesday, November 6th, Sylebra Capital Llc sold 89,809 shares of Impinj stock. The stock was sold at an average price of $201.78, for a total transaction of $18,121,660.02.
• On Monday, November 4th, Sylebra Capital Llc sold 95,670 shares of Impinj stock. The shares were sold at an average price of $195.21, for a total value of $18,675,740.70.
• On Friday, November 1st, Sylebra Capital Llc sold 22,373 shares of Impinj stock. The stock was 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 value of $6,257,255.85.
• On Friday, September 13th, Sylebra Capital Llc bought 4,264,393 shares of Impinj stock. The shares were acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17.

Impinj Stock Performance

NASDAQ:PI opened at $176.51 on Friday. Impinj, Inc. has a one year low of $78.17 and a one year high of $239.88. The stock has a market cap of $4.99 billion, a PE ratio of 198.33 and a beta of 1.81. The stock has a 50 day moving average price of $205.73 and a 200 day moving average price of $175.88.

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

Institutional Trading of Impinj

Hedge funds have recently made changes to their positions in the company. First Bank & Trust increased its position in shares of Impinj by 3.2% during the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after purchasing an additional 55 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Impinj during the third quarter valued at about $30,000. Farther Finance Advisors LLC raised its stake in shares of Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after acquiring an additional 141 shares during the period. KBC Group NV lifted its holdings in shares of Impinj by 29.7% in the 3rd quarter. KBC Group NV now owns 681 shares of the company’s stock worth $147,000 after acquiring an additional 156 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Impinj by 7.3% during the 2nd 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.

Analysts Set New Price Targets

PI has been the subject of several recent analyst reports. Roth Mkm boosted their price target on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Susquehanna boosted their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Cantor Fitzgerald raised their price target on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Lake Street Capital lifted their price objective on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Piper Sandler reissued an “overweight” rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.