This Impinj Insider Sold 45,000 Shares Worth $7.7 Million. Did They Miss Out on Even Bigger Gains?
Key Points
Sylebra Capital LLC disposed of 45,761 shares in aggregate open-market sales across three days, representing a transaction value of approximately $7.7 million based on a weighted average price of $167.25 per share.
All shares sold were attributable to indirect ownership through entities such as Sylebra Capital Partners Master Fund and related advisory clients, with no direct holdings before or after the transaction.
Impinj continues to benefit as retail behemoth Walmart expands its RFID tag requirements.
- These 10 stocks could mint the next wave of millionaires ›
Impinj (NASDAQ:PI)director Daniel Patrick Gibson executed open-market sales totaling 45,761 shares of the company via Sylebra Capital LLC across multiple transactions from Dec. 3, 2025 through Dec. 5, 2025, as disclosed in the SEC Form 4 filing.
Transaction summary
| Metric | Value | Context |
|---|---|---|
| Shares sold | 45,761 | Total open-market shares sold (code 'S') in this filing |
| Shares sold (indirect) | 45,761 | Indirect open-market shares sold via Sylebra Capital Partners Master Fund and related advisory clients |
| Transaction value | ~$7.7 million | Based on SEC Form 4 weighted average purchase price ($167.25) |
| Post-transaction shares (direct) | 0 | Directly held shares after transaction completion |
| Post-transaction shares (indirect) | 1,499,837 | Indirectly held shares after transaction completion |
| Post-transaction value (direct ownership) | ~$0.00 | Market value of direct holdings after transaction |
Transaction value based on SEC Form 4 weighted average purchase price ($167.25).
Key questions
- How does this transaction compare to Sylebra Capital's historical sale activity in Impinj?
The 45,761 shares sold are below Sylebra's historical median for open-market sales, which stands at 51,307 shares per transaction, indicating smaller lot sizes as available holdings decrease. - What is the ownership impact of these sales?
The transaction reduced Sylebra's indirect holdings by 2.96%, bringing its indirect position in Impinj from 1,545,598 shares to 1,499,837 shares; direct ownership remained at zero both before and after the transaction. - Were any shares held directly by Sylebra or its principals?
No direct holdings were reported at any point; all shares were held indirectly via entities such as Sylebra Capital Partners Master Fund, Menlo Master Fund, and other advisory clients as detailed in the footnotes. - How did the execution price compare to market levels on the transaction dates?
The weighted average execution price of approximately $167.25 per share exceeded the Dec. 5, 2025 market open of $158.12 and close of $158.26; this average reflects sales executed over several days at prices above the Dec. 5 market close.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 12/05/25) | $158.26 |
| Market capitalization | $6.08 billion |
| Revenue (TTM) | $359.8 million |
| 1-year price change | -10% |
* 1-year price change calculated using Dec. 5, 2025 as the reference date.
Company snapshot
- Offers endpoint ICs (radios-on-a-chip), reader ICs, readers, gateways, and software for wireless item connectivity and identification.
- Generates revenue primarily through sales of hardware and software that enable item-level connectivity, supporting use cases such as retail self-checkout, loss prevention, and supply chain tracking.
- Serves retailers, supply chain and logistics providers, aviation, automotive, healthcare, manufacturing, and other sectors via distributors, system integrators, value-added resellers, and software partners.
Impinj is a technology company specializing in cloud connectivity platforms that wirelessly connect and track individual items for enterprise and industrial applications. The company leverages proprietary endpoint ICs and systems, including readers and gateways, to enable use cases such as retail self-checkout, loss prevention, and warehouse pallet and carton tracking for its partners. With a diversified customer base across sectors such as retail, supply chain and logistics, aviation, automotive, and healthcare, Impinj extends its item connectivity solutions to a broad range of industries.
What this transaction means for investors
Daniel Patrick Gibson serves on the board of directors of Impinj and is the chief investment officer of Sylebra Capital LLC, which is a major investor in the company.
Sylebra Capital's sale of Impinj shares may have come at an inopportune time, as the stock was down around 10% year over year at the time of the sale. The mid-cap stock has a five-year beta around 1.5, which means it swings more more extremely, both up and down, compared to the market benchmark S&P 500 index. Over longer periods of time, however, Impinj has proven to be a solid investment, up 335% over five years as of Jan. 8, and even up 14% since just the start of 2026.
Impinj makes RFID technology, including chips, readers, software, and systems, connecting physical items to the Internet of Things. Beginning in 2020, retail legend Walmart mandated that its apparel suppliers add RFID tags to their items in order to help track the items as they were shipped, received, and sold in stores. Walmart has since expanded that mandate to other product categories including automotive, books, home goods, and electronics. Bottom line: If suppliers want to do business with Walmart, they'll have to use the technology that companies like Impinj sell. Plus, it's likely that other retailers are following Walmart's lead on the issue.
That places Impinj, which also supplies its solutions to other industries including airlines, healthcare, hospitality, and manufacturing, in a prime position to benefit. According to Simply Wall Street, Impinj recently surpassed shipments of 5 billion of its M800 series endpoint IC products, in part as a result of Walmart's expanded RFID requirements, further solidifying it as a leader in this industry.
Glossary
Open-market sale: The sale of securities on a public exchange, available to all investors, not through private transactions.
Indirect holdings: Ownership of securities through another entity, such as a fund or advisory client, rather than directly in one's own name.
Direct holdings: Securities owned and held in the name of the individual or entity, not through intermediaries.
Weighted average price: The average price of securities sold or bought, weighted by the number of shares in each transaction.
Form 4: A required SEC filing that reports insider trades of a company's securities by officers, directors, or significant shareholders.
Advisory clients: Entities or individuals whose investments are managed by an investment advisor or firm.
Master fund: An investment fund structure pooling assets from multiple sources, often used by hedge funds for efficiency.
Transaction value: The total dollar amount received or paid in a securities transaction, typically calculated as price times quantity.
Lot size: The number of shares or units involved in a single securities transaction.
Value-added reseller: A company that adds features or services to a product and resells it, often in technology sectors.
Endpoint IC: An integrated circuit (chip) designed to connect individual items wirelessly for identification or tracking.
TTM: The 12-month period ending with the most recent quarterly report.
Where to invest $1,000 right now
When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor’s total average return is 974%* — a market-crushing outperformance compared to 196% for the S&P 500.
They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor.
See the stocks »
*Stock Advisor returns as of January 8, 2026.
Sarah Sidlow has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Walmart. The Motley Fool recommends Impinj. The Motley Fool has a disclosure policy.
Recommended Articles
