Insider Selling: Impinj, Inc. (NASDAQ:PI) Major Shareholder Sells $3,936,150.00 in Stock

Impinj, Inc. (NASDAQ:PIGet Rating) major shareholder Sylebra Capital Ltd sold 34,988 shares of Impinj 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 transaction, the insider now directly owns 3,078,949 shares of the company’s stock, valued at $346,381,762.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more 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 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 transaction of $11,148,184.50.
  • On Tuesday, November 15th, Sylebra Capital Ltd sold 64,911 shares of Impinj stock. The stock was sold at an average price of $116.33, for a total transaction of $7,551,096.63.

Impinj Stock Up 1.7 %

PI opened at $121.79 on Friday. Impinj, Inc. has a one year low of $39.74 and a one year high of $124.52. The company has a debt-to-equity ratio of 135.78, a quick ratio of 6.78 and a current ratio of 7.73. The stock has a market capitalization of $3.16 billion, a P/E ratio of -68.81 and a beta of 2.26. The business’s 50-day simple moving average is $96.17 and its 200-day simple moving average is $78.17.

Impinj (NASDAQ:PIGet Rating) last released its quarterly 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 for 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%. Analysts anticipate that Impinj, Inc. will post -0.69 EPS for the current year.

Institutional Trading of Impinj

Several hedge funds have recently modified their holdings of PI. Advisors Asset Management Inc. purchased a new position in Impinj in the first quarter valued at about $39,000. Vectors Research Management LLC purchased a new position in Impinj in the 2nd quarter valued at approximately $59,000. Great West Life Assurance Co. Can raised its holdings in Impinj by 31.7% during the third quarter. Great West Life Assurance Co. Can now owns 1,104 shares of the company’s stock worth $88,000 after purchasing an additional 266 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Impinj during the first quarter worth $101,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Impinj by 49.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,171 shares of the company’s stock valued at $138,000 after purchasing an additional 722 shares during the last quarter. 91.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

About Impinj

(Get Rating)

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.

See Also

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

Receive News & Ratings for Impinj Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Impinj and related companies with MarketBeat.com's FREE daily email newsletter.