Impinj (NASDAQ:PI) Stock: Insider Sylebra Capital Llc Sells 40,500 Shares

Key Points

• Sylebra Capital sold 40,500 Impinj shares on November 4 for about $7.46 million, reducing its position by 5.58% to 685,752 shares. It also sold 49,691 shares the previous day.
• Impinj shares fell 10.7% to $161.03 in Thursday trading, despite the company reporting quarterly earnings and revenue above analyst expectations; revenue rose 16.7% year over year.
• Analysts maintain a Moderate Buy consensus, with an average price target of $196.10. Seven analysts rate the stock Buy, three Hold, and one Sell.

Impinj, Inc. (NASDAQ:PI - Get Free Report) Director Sylebra Capital Llc sold 40,500 shares of the business's stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $184.23, for a total transaction of $7,461,315.00. Following the completion of the transaction, the director owned 685,752 shares in the company, valued at $126,336,090.96. This trade represents a 5.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, November 3rd, Sylebra Capital Llc sold 49,691 shares of Impinj stock. The shares were sold at an average price of $185.23, for a total transaction of $9,204,263.93.

Impinj Trading Down 10.7%

NASDAQ PI traded down $19.27 during mid-day trading on Thursday, reaching $161.03. 341,657 shares of the stock were exchanged, compared to its average volume of 527,509. Impinj, Inc. has a one year low of $87.36 and a one year high of $215.25. The stock has a 50 day simple moving average of $178.03 and a 200-day simple moving average of $144.34. The stock has a market cap of $4.97 billion, a P/E ratio of -487.95 and a beta of 1.90. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 7.07.

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

Wall Street Analyst Weigh In

PI has been the subject of several research analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price objective on shares of Impinj in a research report on Thursday, July 30th. Susquehanna upped their target price on Impinj from $175.00 to $225.00 and gave the company a "positive" rating in a research report on Thursday, October 29th. BMO Capital Markets initiated coverage on Impinj in a research note on Thursday, August 20th. They set an "outperform" rating and a $220.00 target price for the company. UBS Group lifted their target price on Impinj from $175.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, October 29th. Finally, Barclays lifted their target price on Impinj from $200.00 to $217.00 and gave the stock an "overweight" rating in a report on Monday. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Impinj presently has an average rating of "Moderate Buy" and a consensus target price of $196.10.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Signaturefd LLC grew its holdings in Impinj by 72.3% during the third quarter. Signaturefd LLC now owns 162 shares of the company's stock worth $29,000 after buying an additional 68 shares in the last quarter. Arizona State Retirement System raised its position in Impinj by 1.6% in the 2nd quarter. Arizona State Retirement System now owns 7,984 shares of the company's stock valued at $1,144,000 after buying an additional 128 shares during the last quarter. SFE Investment Counsel raised its position in Impinj by 4.6% in the 1st quarter. SFE Investment Counsel now owns 3,525 shares of the company's stock valued at $362,000 after buying an additional 155 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Impinj by 5.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,081 shares of the company's stock valued at $316,000 after acquiring an additional 157 shares in the last quarter. Finally, TOP Private Wealth LLC. bought a new position in Impinj during the 2nd quarter valued at $25,000.

Impinj Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.