Impinj, Inc. (NASDAQ:PI) Major Shareholder Sylebra Capital Ltd Buys 33,682 Shares of Stock

Impinj, Inc. (NASDAQ:PI) major shareholder Sylebra Capital Ltd purchased 33,682 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average price of $73.16 per share, with a total value of $2,464,175.12. Following the transaction, the insider now directly owns 3,982,248 shares in the company, valued at $291,341,263.68. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, August 31st, Sylebra Capital Ltd bought 79,370 shares of Impinj stock. The stock was purchased at an average cost of $66.11 per share, for a total transaction of $5,247,150.70.
• On Tuesday, August 29th, Sylebra Capital Ltd purchased 28,579 shares of Impinj stock. The stock was purchased at an average price of $63.27 per share, with a total value of $1,808,193.33.
• On Monday, August 21st, Sylebra Capital Ltd acquired 48,171 shares of Impinj stock. The shares were purchased at an average price of $58.45 per share, for a total transaction of $2,815,594.95.

Impinj Stock Down 1.2 %

Shares of Impinj stock opened at $79.01 on Thursday. The stock has a 50-day simple moving average of $59.54 and a 200-day simple moving average of $75.01. Impinj, Inc. has a 52-week low of $48.39 and a 52-week high of $144.90. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -74.54 and a beta of 2.05. The company has a debt-to-equity ratio of 8.09, a current ratio of 8.09 and a quick ratio of 4.92.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, October 25th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.20. The firm had revenue of $65.01 million during the quarter, compared to analysts’ expectations of $64.73 million. Impinj had a negative net margin of 9.03% and a negative return on equity of 47.86%. On average, equities research analysts expect that Impinj, Inc. will post -1.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. The Goldman Sachs Group decreased their target price on Impinj from $101.00 to $89.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. StockNews.com raised Impinj to a “sell” rating in a research note on Thursday, October 26th. Roth Mkm reduced their price target on shares of Impinj from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 price objective on shares of Impinj in a research report on Thursday, October 26th. Finally, Lake Street Capital dropped their price objective on shares of Impinj from $130.00 to $90.00 in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.25.

Institutional Investors Weigh In On Impinj

Several institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in shares of Impinj by 22.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,497 shares of the company’s stock valued at $633,000 after acquiring an additional 2,144 shares in the last quarter. Royal Bank of Canada raised its position in shares of Impinj by 734.1% in the third quarter. Royal Bank of Canada now owns 33,941 shares of the company’s stock valued at $1,868,000 after purchasing an additional 29,872 shares during the period. Scopia Capital Management LP bought a new position in shares of Impinj in the third quarter valued at approximately $878,000. KADENSA CAPITAL Ltd lifted its position in shares of Impinj by 13.8% during the 3rd quarter. KADENSA CAPITAL Ltd now owns 33,324 shares of the company’s stock worth $1,834,000 after purchasing an additional 4,049 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Impinj by 1.7% during the 3rd quarter. Legal & General Group Plc now owns 21,667 shares of the company’s stock valued at $1,192,000 after purchasing an additional 364 shares during the period.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.