Impinj, Inc. (NASDAQ:PI) Major Shareholder Acquires $20,000,003.17 in Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business’s stock in a transaction on Friday, September 13th. The shares were bought at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Impinj Trading Up 3.5 %

NASDAQ:PI opened at $193.90 on Thursday. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $198.00. The stock’s 50 day simple moving average is $164.16 and its 200-day simple moving average is $150.97. The firm has a market cap of $5.37 billion, a P/E ratio of -554.00 and a beta of 1.78.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $102.50 million during the quarter, compared to the consensus estimate of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. Impinj’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.14) EPS. Research analysts forecast that Impinj, Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PI has been the topic of several research analyst reports. Piper Sandler lifted their price target on shares of Impinj from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Roth Mkm lifted their target price on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $205.00 target price on shares of Impinj in a research report on Thursday, July 25th. Lake Street Capital raised their price target on Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $187.10.

Institutional Investors Weigh In On Impinj

A number of institutional investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj during the 1st quarter worth $32,000. SouthState Corp purchased a new stake in Impinj during the second quarter worth about $94,000. nVerses Capital LLC grew its position in Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after buying an additional 300 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Impinj by 117.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after buying an additional 521 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its position in shares of Impinj by 211.2% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after acquiring an additional 549 shares during the period.

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.