Analyzing Impinj Inc. (PI) After Recent Trading Activity


Impinj Inc.’s recently made public that its 10% Owner Sylebra Capital Ltd acquired Company’s shares for reported $8.01 million on Aug 30. In the deal valued at $63.32 per share,126,427 shares were bought. As a result of this transaction, Sylebra Capital Ltd now holds 3,869,196 shares worth roughly $ 263.92 million.

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Then, Sylebra Capital Ltd bought 28,579 shares, generating $1,808,193 in total proceeds. Upon buying the shares at $63.27, the 10% Owner now owns 3,742,769 shares.

Before that, Baker Cary sold 1,485 shares. Impinj Inc. shares valued at $89,409 were divested by the Chief Financial Officer at a price of $60.21 per share. As a result of the transaction, Baker Cary now holds 50,030 shares, worth roughly $3.41 million.

BWS Financial initiated its Impinj Inc. [PI] rating to a Sell in a research note published on Friday, June 26, 2023; the price target was $45. PT values the company’s stock at a premium of -51.58 to its Friday closing price.

Price Performance Review of PI

On Friday, Impinj Inc. [NASDAQ:PI] saw its stock jump 2.46% to $68.21. On the same session, the stock had its day’s lowest price of $67.5686, but rose to a high of $69.77. Over the last five days, the stock has gained 11.67%. Impinj Inc. shares have fallen nearly -37.53% since the year began. Nevertheless, the stocks have fallen -23.60% over the past one year. While a 52-week high of $144.90 was reached on 03/06/23, a 52-week low of $55.01 was recorded on 08/11/23. SMA at 50 days reached $72.90, while 200 days put it at $106.63. A total of 0.67 million shares were traded, compared to the trading of 1.32 million shares in the previous session.

Levels Of Support And Resistance For PI Stock

The 24-hour chart illustrates a support level at 67.26, which if violated will result in even more drops to 66.31. On the upside, there is a resistance level at 69.46. A further resistance level may holdings at 70.72. The Relative Strength Index (RSI) on the 14-day chart is 56.16, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.43, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 11.35%. Stochastics %K at 87.63% indicates the stock is a selling.

How much short interest is there in Impinj Inc.?

A steep rise in short interest was recorded in Impinj Inc. stocks on Aug 14, 2023, dropping by -0.46 million shares to a total of 2.85 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.31 million shares. There was a decline of -16.14%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 12.43% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.23.

Impinj Inc. [PI] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 3,947,938 shares, or roughly 14.70% of the outstanding PI shares. In other words, the investor’s shares have risen by 3,431,448 from its previous 13-F filing of 516490.0. Additionally, Sylebra Capital Ltd. increased 31.41% of its stake after which the total value it holdings stand at $249,343,271, while The Vanguard Group, Inc. added 6.20% of its stake to hold $174.42 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 86,849 shares of Impinj Inc., while Chevy Chase Trust Co. bought 28,298 shares. At present, Invesco Advisers, Inc. is holding 1,095,457 shares valued at $72.98 million. Gilder, Gagnon, Howe & Co. LLC owned 968,800 shares of the company at the time of its most recent 13F filing, worth $64.54 million.

According to FactSet, Impinj Inc.’s share price will average $92.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 50.22 percent from its previous closing price of $66.57. Analysts expect Impinj Inc. stock to reach the higher price of $110.00, while the lowest price estimate is $45.00. However, 8 analysts have rated PI stock as an Overweight in their predictions for 2023.


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