Sylebra Capital LLC Has $309.30 Million Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Sylebra Capital LLC cut its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 33.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,129,260 shares of the company's stock after selling 1,068,092 shares during the period. Impinj comprises about 11.6% of Sylebra Capital LLC's investment portfolio, making the stock its 3rd biggest position. Sylebra Capital LLC owned approximately 7.46% of Impinj worth $309,296,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hillsdale Investment Management Inc. grew its position in Impinj by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company's stock worth $3,586,000 after acquiring an additional 95 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Impinj by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock worth $1,612,000 after acquiring an additional 100 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in Impinj by 6.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company's stock worth $238,000 after acquiring an additional 106 shares in the last quarter. Cynosure Group LLC grew its position in Impinj by 7.8% in the fourth quarter. Cynosure Group LLC now owns 1,953 shares of the company's stock worth $284,000 after acquiring an additional 142 shares in the last quarter. Finally, Xponance Inc. boosted its position in shares of Impinj by 10.5% during the fourth quarter. Xponance Inc. now owns 1,660 shares of the company's stock valued at $241,000 after buying an additional 158 shares during the period.

Impinj Price Performance

Shares of NASDAQ PI traded down $1.25 on Friday, hitting $114.31. The company's stock had a trading volume of 349,283 shares, compared to its average volume of 594,448. The stock has a 50 day moving average of $92.76 and a 200-day moving average of $120.06. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 84.05 and a beta of 1.64. Impinj, Inc. has a 12-month low of $60.85 and a 12-month high of $239.88.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Evercore ISI boosted their price target on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Piper Sandler reduced their price target on Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Cantor Fitzgerald reaffirmed 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 lowered their price target on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Finally, Needham & Company LLC decreased their price target on shares of Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Impinj has an average rating of "Moderate Buy" and a consensus target price of $155.38.

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.