Impinj (NASDAQ:PI) Director Sylebra Capital Llc Sells 49,691 Shares of Company Stock

Key Points

• Director Sylebra Capital sold 49,691 Impinj shares at an average of $185.23, worth about $9.2 million, reducing its stake by 6.4% to 726,252 shares. It also sold 40,500 shares the following day.
• Impinj’s latest quarterly results beat estimates: adjusted earnings were $0.69 per share versus $0.61 expected, and revenue of $112.08 million exceeded forecasts and rose 16.7% year over year.
• Analyst sentiment was moderately positive, with a consensus “Moderate Buy” rating and a $196.10 average price target, even as shares fell to $161.03 during Thursday trading.

Impinj, Inc. (NASDAQ:PI - Get Free Report) Director Sylebra Capital Llc sold 49,691 shares of the firm's stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $185.23, for a total value of $9,204,263.93. Following the sale, the director owned 726,252 shares in the company, valued at $134,523,657.96. The trade was a 6.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, November 4th, Sylebra Capital Llc sold 40,500 shares of Impinj stock. The stock was sold at an average price of $184.23, for a total value of $7,461,315.00.

Impinj Price Performance

Shares of PI traded down $19.27 during midday trading on Thursday, reaching $161.03. The stock had a trading volume of 341,657 shares, compared to its average volume of 527,509. The company's 50-day moving average is $178.03 and its 200 day moving average is $144.34. Impinj, Inc. has a 12-month low of $87.36 and a 12-month high of $215.25. The company has a current ratio of 9.42, a quick ratio of 7.07 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of -487.95 and a beta of 1.90.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.61 by $0.08. The firm had revenue of $112.08 million for the quarter, compared to analyst estimates of $107.16 million. Impinj had a positive return on equity of 6.65% and a negative net margin of 2.45%. The company's revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.58 EPS. On average, equities analysts predict that Impinj, Inc. will post 0.59 EPS for the current fiscal year.

Analysts Set New Price Targets

PI has been the topic of several recent research reports. Zacks Research lowered shares of Impinj from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Barclays boosted their price target on shares of Impinj from $200.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday. Cantor Fitzgerald restated an "overweight" rating and set a $200.00 price target on shares of Impinj in a research report on Thursday, July 30th. Jefferies Financial Group upped their price target on shares of Impinj from $190.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, October 29th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Impinj in a report on Wednesday, October 28th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $196.10.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PI. Janus Henderson Group PLC lifted its position in Impinj by 40.1% during the first quarter. Janus Henderson Group PLC now owns 28,014 shares of the company's stock valued at $2,877,000 after buying an additional 8,023 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Impinj by 2,441.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 425,945 shares of the company's stock valued at $43,745,000 after buying an additional 409,182 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Impinj in the 2nd quarter worth about $637,286,000. Polar Asset Management Partners Inc. grew its position in shares of Impinj by 25.6% in the 1st quarter. Polar Asset Management Partners Inc. now owns 136,656 shares of the company's stock worth $14,035,000 after buying an additional 27,845 shares during the period. Finally, California State Teachers Retirement System grew its position in shares of Impinj by 29.3% in the 1st quarter. California State Teachers Retirement System now owns 33,902 shares of the company's stock worth $3,482,000 after buying an additional 7,678 shares during the period.

About Impinj

Impinj, Inc NASDAQ: PI develops technology for the Internet of Things (IoT) based on RAIN RFID, a wireless technology used to identify, locate and authenticate individual items. Its platform is designed to connect physical products, packages and assets to digital systems, helping organizations collect real-time information throughout supply chains and business operations.

The company offers a portfolio of RAIN RFID endpoint integrated circuits, reader chips, RFID readers and gateways, antennas, and cloud and software solutions.

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