Impinj, Inc. (NASDAQ:PI - Get Free Report) major shareholder Sylebra Capital Llc sold 250,000 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $203.00, for a total value of $50,750,000.00. Following the transaction, the insider now directly owns 2,222,352 shares of the company's stock, valued at $451,137,456. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Sylebra Capital Llc also recently made the following trade(s):
Impinj stock traded down $0.96 during mid-day trading on Tuesday, reaching $198.34. 45,692 shares of the company's stock traded hands, compared to its average volume of 471,878. Impinj, Inc. has a 12-month low of $69.50 and a 12-month high of $239.88. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 223.93 and a beta of 1.81. The stock has a 50 day moving average of $203.93 and a two-hundred day moving average of $175.32.
Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to analysts' expectations of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm's revenue for the quarter was up 46.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.36) earnings per share. As a group, sell-side analysts forecast that Impinj, Inc. will post 0.4 earnings per share for the current year.
A number of research analysts recently weighed in on PI shares. Evercore ISI reaffirmed an "outperform" rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Roth Mkm boosted their price target on shares of Impinj from $145.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. Cantor Fitzgerald upped their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Lake Street Capital increased their target price on Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, Needham & Company LLC raised their price target on shares of Impinj from $195.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $224.60.
View Our Latest Stock Analysis on Impinj
Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Impinj in the first quarter worth about $513,000. Swiss National Bank boosted its holdings in Impinj by 0.9% in the first quarter. Swiss National Bank now owns 45,400 shares of the company's stock worth $5,830,000 after acquiring an additional 400 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Impinj by 8.5% in the first quarter. ProShare Advisors LLC now owns 4,194 shares of the company's stock worth $539,000 after acquiring an additional 330 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in Impinj during the first quarter valued at approximately $9,659,000. Finally, Vanguard Group Inc. raised its position in Impinj by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company's stock valued at $322,384,000 after acquiring an additional 35,893 shares in the last quarter.
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.
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