Insider Selling: Impinj (NASDAQ:PI) Director Sells $9,204,263.93 in Stock

Impinj, Inc. (NASDAQ:PI) Director Sylebra Capital Llc sold 49,691 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $185.23, for a total transaction of $9,204,263.93. Following the transaction, the director directly owned 726,252 shares of the company’s stock, valued at $134,523,657.96. This represents a 6.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 shares were sold at an average price of $184.23, for a total transaction of $7,461,315.00.

Impinj Stock Down 10.7%

Shares of PI traded down $19.27 during mid-day trading on Thursday, reaching $161.03. The company had a trading volume of 341,657 shares, compared to its average volume of 527,509. The company has a debt-to-equity ratio of 0.61, a quick ratio of 7.07 and a current ratio of 9.42. The firm has a 50-day moving average price of $178.03 and a 200 day moving average price of $144.34. Impinj, Inc. has a 52 week low of $87.36 and a 52 week high of $215.25. 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) last posted its quarterly earnings data 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. The company had revenue of $112.08 million during 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 firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the company earned $0.58 EPS. On average, sell-side analysts forecast that Impinj, Inc. will post 0.59 EPS for the current year.

Institutional Investors Weigh In On Impinj

Several institutional investors have recently modified their holdings of PI. BlackRock Inc. purchased a new position in Impinj in the 2nd quarter worth about $637,286,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Impinj during the 2nd quarter valued at about $95,867,000. William Blair Investment Management LLC purchased a new stake in shares of Impinj during the 2nd quarter valued at about $42,514,000. AWM Investment Company Inc. purchased a new stake in shares of Impinj during the 2nd quarter valued at about $29,651,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Impinj in the second quarter worth approximately $23,191,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Impinj from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Barclays raised their price objective on shares of Impinj from $200.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Impinj in a report on Wednesday, October 28th. Susquehanna increased their price target on shares of Impinj from $175.00 to $225.00 and gave the company a “positive” rating in a report on Thursday, October 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of Impinj in a research report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $196.10.

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.