Insider Buying: Purple Innovation, Inc. (NASDAQ:PRPL) CEO Purchases 51,061 Shares of Stock

Purple Innovation, Inc. (NASDAQ:PRPL) CEO Robert Demartini bought 51,061 shares of Purple Innovation stock in a transaction on Wednesday, June 26th. The stock was acquired at an average price of $0.98 per share, for a total transaction of $50,039.78. Following the purchase, the chief executive officer now owns 514,730 shares of the company’s stock, valued at $504,435.40. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Robert Demartini also recently made the following trade(s):

• On Friday, June 28th, Robert Demartini purchased 138,834 shares of Purple Innovation stock. The shares were purchased at an average price of $1.03 per share, for a total transaction of $142,999.02.

Purple Innovation Stock Performance

Shares of NASDAQ PRPL remained flat at $1.04 during midday trading on Friday. 805,610 shares of the company’s stock were exchanged, compared to its average volume of 688,665. Purple Innovation, Inc. has a fifty-two week low of $0.55 and a fifty-two week high of $3.33. The company’s 50-day moving average is $1.30 and its 200-day moving average is $1.33. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.75 and a current ratio of 1.50. The company has a market cap of $111.99 million, a PE ratio of -0.78 and a beta of 2.03.

Purple Innovation (NASDAQ:PRPL) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.04). Purple Innovation had a negative return on equity of 62.31% and a negative net margin of 26.97%. The company had revenue of $120.03 million for the quarter, compared to analyst estimates of $122.15 million. Analysts predict that Purple Innovation, Inc. will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Caliber Wealth Management LLC raised its holdings in shares of Purple Innovation by 32.3% during the first quarter. Caliber Wealth Management LLC now owns 33,082 shares of the company’s stock worth $58,000 after purchasing an additional 8,082 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Purple Innovation by 55.1% during the third quarter. American Century Companies Inc. now owns 30,205 shares of the company’s stock worth $52,000 after purchasing an additional 10,731 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Purple Innovation by 73.7% during the 1st quarter. BNP Paribas Financial Markets now owns 26,879 shares of the company’s stock valued at $47,000 after purchasing an additional 11,405 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Purple Innovation by 36.6% in the 4th quarter. SG Americas Securities LLC now owns 51,847 shares of the company’s stock valued at $53,000 after purchasing an additional 13,905 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Purple Innovation by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,903,799 shares of the company’s stock worth $5,053,000 after buying an additional 20,189 shares in the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PRPL shares. Roth Capital upgraded Purple Innovation from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 13th. Craig Hallum lifted their target price on Purple Innovation from $1.00 to $2.00 and gave the company a “hold” rating in a research note on Wednesday, March 13th. Roth Mkm reiterated a “buy” rating and issued a $2.50 target price on shares of Purple Innovation in a research note on Thursday, March 21st. Finally, Wedbush reiterated an “outperform” rating and issued a $2.25 target price on shares of Purple Innovation in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.95.

Purple Innovation Company Profile

Purple Innovation, Inc designs and manufactures sleep and other products in the United States and internationally. The company offers mattresses, pillows, cushions, bases, sheets, platforms, adjustable bases, mattress protectors, foundations, blankets, duvets, duvet covers, seat cushions, and pet beds under the Purple brand.