Impinj (NASDAQ:PI) Director Sylebra Capital Llc Sells 38,724 Shares

Key Points

• Impinj director Sylebra Capital LLC sold 38,724 shares on June 2 at an average price of $142.31, for proceeds of about $5.51 million. After the sale, it still held 927,780 shares, and the transaction reduced its position by 4.01%.
• The director has been actively trimming its stake, with additional sales reported on June 3, June 1, May 29, and May 8. Those trades ranged from about 6,313 to 48,504 shares each.
• Impinj shares fell in trading to $136.18, while the company reported better-than-expected quarterly results last month, including EPS of $0.14 versus the $0.11 estimate. Analysts currently rate the stock a consensus Hold with an average price target of $175.00.

Impinj, Inc. (NASDAQ:PI - Get Free Report) Director Sylebra Capital Llc sold 38,724 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $142.31, for a total value of $5,510,812.44. Following the sale, the director directly owned 927,780 shares in the company, valued at $132,032,371.80. This trade represents a 4.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Sylebra Capital Llc also recently made the following trade(s):

• On Wednesday, June 3rd, Sylebra Capital Llc sold 6,313 shares of Impinj stock. The stock was sold at an average price of $139.17, for a total value of $878,580.21.
• On Monday, June 1st, Sylebra Capital Llc sold 7,163 shares of Impinj stock. The stock was sold at an average price of $144.29, for a total value of $1,033,549.27.
• On Friday, May 29th, Sylebra Capital Llc sold 48,504 shares of Impinj stock. The stock was sold at an average price of $150.78, for a total value of $7,313,433.12.
• On Friday, May 8th, Sylebra Capital Llc sold 25,896 shares of Impinj stock. The stock was sold at an average price of $152.73, for a total value of $3,955,096.08.

Impinj Stock Performance

Shares of NASDAQ:PI traded down $1.58 during midday trading on Thursday, hitting $136.18. The company's stock had a trading volume of 337,963 shares, compared to its average volume of 632,467. The company has a debt-to-equity ratio of 1.18, a quick ratio of 6.55 and a current ratio of 9.20. The stock's 50 day simple moving average is $126.22 and its 200 day simple moving average is $139.43. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of -148.02 and a beta of 1.91. Impinj, Inc. has a fifty-two week low of $87.36 and a fifty-two week high of $247.06.

Impinj (NASDAQ:PI - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. Impinj had a negative net margin of 7.66% and a positive return on equity of 5.67%. The company had revenue of $74.25 million during the quarter, compared to analysts' expectations of $72.53 million. During the same quarter in the previous year, the company posted $0.21 EPS. The business's revenue for the quarter was down .1% compared to the same quarter last year. Impinj has set its Q2 2026 guidance at 0.770-0.820 EPS. As a group, research analysts anticipate that Impinj, Inc. will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

PI has been the subject of a number of research analyst reports. Piper Sandler reaffirmed a "mixed" rating and issued a $180.00 price target (down from $230.00) on shares of Impinj in a report on Friday, February 6th. UBS Group raised their price target on Impinj from $155.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, April 30th. Evercore set a $144.00 price objective on shares of Impinj in a research report on Thursday, April 30th. Wall Street Zen raised shares of Impinj from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, Zacks Research raised Impinj from a "strong sell" rating to a "hold" rating in a research report on Friday, May 1st. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $175.00.

Institutional Trading of Impinj

Several hedge funds have recently added to or reduced their stakes in PI. The Manufacturers Life Insurance Company grew its stake in shares of Impinj by 2,441.0% in the first quarter. The Manufacturers Life Insurance Company now owns 425,945 shares of the company's stock worth $43,745,000 after purchasing an additional 409,182 shares during the last quarter. Invesco Ltd. raised its position in Impinj by 48.3% during the third quarter. Invesco Ltd. now owns 1,209,292 shares of the company's stock valued at $218,580,000 after purchasing an additional 393,685 shares in the last quarter. Norges Bank bought a new stake in Impinj in the 4th quarter worth approximately $55,216,000. William Blair Investment Management LLC acquired a new stake in shares of Impinj during the third quarter worth $36,259,000. Finally, State Street Corp lifted its position in Impinj by 10.8% during the fourth quarter. State Street Corp now owns 1,276,893 shares of the company's stock valued at $222,192,000 after purchasing an additional 124,792 shares during the period.

About Impinj

Impinj, Inc, headquartered in Seattle, Washington, develops Radio Frequency Identification (RFID) solutions designed to connect everyday items to the internet. Founded in 2000, the company pioneered RAIN RFID technology with a focus on transforming supply chain and inventory processes across retail, healthcare, airport baggage handling and manufacturing. Impinj's platform comprises RAIN RFID tag chips, fixed and handheld RFID readers, gateways, antennas and connectivity modules that enable real-time visibility of tagged items.

Impinj's product portfolio is built around its core RAIN RFID ecosystem, offering tag chips for high-volume production (Monza series), reader chips for integration into third-party devices and complete reader and gateway systems (Speedway series and xArray).

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