Key Points
- Director Sylebra Capital sold 40,500 Impinj shares at an average price of $184.23, worth about $7.46 million, reducing its ownership by 5.58%. It also sold 49,691 shares the previous day and retained 685,752 shares after the latest sale.
- Impinj reported quarterly earnings of $0.69 per share, beating the $0.61 consensus estimate; revenue of $112.08 million also exceeded expectations and rose 16.7% year over year.
- Analysts’ average rating was “Moderate Buy”, with an average price target of $196.10. Recent target changes included Barclays raising its target to $217 and Needham to $195.
Impinj, Inc. (NASDAQ:PI - Get Free Report) Director Sylebra Capital Llc sold 40,500 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $184.23, for a total value of $7,461,315.00. Following the completion of the transaction, the director directly owned 685,752 shares of the company's stock, valued at approximately $126,336,090.96. The trade was a 5.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
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 stock was sold at an average price of $185.23, for a total value of $9,204,263.93.
Impinj Price Performance
Impinj stock opened at $161.06 on Friday. The business has a 50 day simple moving average of $178.07 and a 200 day simple moving average of $144.34. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 7.07. The company has a market capitalization of $4.97 billion, a PE ratio of 375.62 and a beta of 1.90. Impinj, Inc. has a one year low of $87.36 and a one year high of $215.25.
Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.08. Impinj had a positive return on equity of 6.65% and a negative net margin of 2.45%. The firm had revenue of $112.08 million for the quarter, compared to analysts' expectations of $107.16 million. During the same period in the prior year, the business posted $0.58 earnings per share. The business's revenue was up 16.7% compared to the same quarter last year. On average, sell-side analysts forecast that Impinj, Inc. will post 0.59 EPS for the current fiscal year.
Institutional Investors Weigh In On Impinj
A number of hedge funds and other institutional investors have recently bought and sold shares of PI. Fifth Third Bancorp raised its position in Impinj by 1.3% in the 3rd quarter. Fifth Third Bancorp now owns 8,871 shares of the company's stock valued at $1,591,000 after purchasing an additional 118 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in Impinj by 63.4% in the third quarter. Maryland State Retirement & Pension System now owns 6,468 shares of the company's stock worth $1,160,000 after purchasing an additional 2,509 shares in the last quarter. Lisanti Capital Growth LLC grew its holdings in shares of Impinj by 462.0% during the third quarter. Lisanti Capital Growth LLC now owns 31,445 shares of the company's stock worth $5,638,000 after purchasing an additional 25,850 shares during the last quarter. Riverbridge Partners LLC grew its holdings in shares of Impinj by 4.0% during the third quarter. Riverbridge Partners LLC now owns 58,290 shares of the company's stock worth $10,451,000 after purchasing an additional 2,262 shares during the last quarter. Finally, Ethic Inc. bought a new stake in shares of Impinj during the third quarter worth $252,000.
Analyst Upgrades and Downgrades
PI has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Impinj from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. BMO Capital Markets began coverage on shares of Impinj in a research report on Thursday, August 20th. They set an "outperform" rating and a $220.00 target price for the company. UBS Group lifted their price target on shares of Impinj from $175.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, October 29th. Needham & Company LLC lifted their price target on shares of Impinj from $168.00 to $195.00 and gave the company a "buy" rating in a report on Thursday, October 29th. Finally, Barclays boosted their price target on shares of Impinj from $200.00 to $217.00 and gave the company an "overweight" rating in a research report on Monday. Seven research 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. According to MarketBeat.com, Impinj currently has an average rating of "Moderate Buy" and an average price target of $196.10.
View Our Latest Analysis on Impinj
Impinj Company Profile
(
Get Free Report)
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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