Sylebra Capital LLC Acquires 274,764 Shares of Impinj, Inc. (NASDAQ:PI)

Sylebra Capital LLC raised its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,472,116 shares of the company's stock after purchasing an additional 274,764 shares during the quarter. Impinj accounts for approximately 13.9% of Sylebra Capital LLC's portfolio, making the stock its 2nd largest holding. Sylebra Capital LLC owned about 12.27% of Impinj worth $504,360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PI. Vanguard Group Inc. raised its holdings in shares of Impinj by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock valued at $500,009,000 after buying an additional 104,861 shares during the period. Capital International Investors grew its position in Impinj by 45.0% in the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company's stock valued at $221,897,000 after acquiring an additional 473,721 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Impinj by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 546,823 shares of the company's stock valued at $79,654,000 after purchasing an additional 3,899 shares during the period. Janus Henderson Group PLC lifted its position in shares of Impinj by 3,824.4% during the fourth quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock worth $63,310,000 after purchasing an additional 424,851 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Impinj by 3.4% in the fourth quarter. Ameriprise Financial Inc. now owns 407,391 shares of the company's stock valued at $59,178,000 after purchasing an additional 13,264 shares during the period.

Impinj Price Performance

Shares of PI traded up $4.28 on Tuesday, reaching $116.28. 481,963 shares of the stock traded hands, compared to its average volume of 723,187. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 85.50 and a beta of 1.64. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The stock's 50-day moving average price is $90.79 and its 200-day moving average price is $121.27.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.12. The company had revenue of $74.28 million during the quarter, compared to analysts' expectations of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The business's revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 EPS. As a group, equities research analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Impinj 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.