Impinj, Inc. (NASDAQ:PI) Shares Acquired by Sylebra Capital LLC

Sylebra Capital LLC lifted its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,472,116 shares of the company's stock after buying an additional 274,764 shares during the period. Impinj makes up 13.9% of Sylebra Capital LLC's holdings, making the stock its 2nd biggest position. Sylebra Capital LLC owned 12.27% of Impinj worth $504,360,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PI. Canada Pension Plan Investment Board purchased a new stake in shares of Impinj during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new position in Impinj during the fourth quarter worth $33,000. Jones Financial Companies Lllp raised its holdings in Impinj by 205.9% during the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock worth $38,000 after purchasing an additional 175 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company's stock worth $53,000 after acquiring an additional 198 shares during the last quarter. Finally, Spire Wealth Management purchased a new stake in shares of Impinj in the fourth quarter valued at $87,000.

Impinj Stock Performance

Shares of PI stock traded up $0.07 during trading hours on Wednesday, hitting $116.49. The company had a trading volume of 45,976 shares, compared to its average volume of 594,108. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 85.68 and a beta of 1.64. The firm's fifty day moving average is $91.32 and its 200 day moving average is $121.24.

Impinj (NASDAQ:PI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.09 by $0.12. The business had revenue of $74.28 million for the quarter, compared to the consensus estimate of $71.73 million. Impinj had a return on equity of 7.11% and a net margin of 11.15%. Impinj's revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS. On average, sell-side analysts expect that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Analyst Ratings Changes

PI has been the subject of a number of analyst reports. Piper Sandler reduced their price target on Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Cantor Fitzgerald reiterated an "overweight" rating and set a $133.00 price target on shares of Impinj in a research report on Thursday, April 24th. The Goldman Sachs Group reduced their price objective on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. Needham & Company LLC reduced their price objective on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Evercore ISI raised their target price on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Impinj presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.38.

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.