Purple Innovation, Inc. (NASDAQ:PRPL) CEO Acquires $142,999.02 in Stock

Purple Innovation, Inc. (NASDAQ:PRPL) CEO Robert Demartini acquired 138,834 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $1.03 per share, with a total value of $142,999.02. Following the completion of the transaction, the chief executive officer now directly owns 663,669 shares in the company, valued at approximately $683,579.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, June 26th, Robert Demartini purchased 51,061 shares of Purple Innovation stock. The stock was bought at an average cost of $0.98 per share, for a total transaction of $50,039.78.

Purple Innovation Price Performance

PRPL stock remained flat at $1.04 during trading hours on Friday. 805,610 shares of the company’s stock were exchanged, compared to its average volume of 688,665. The company has a market capitalization of $111.99 million, a PE ratio of -0.75 and a beta of 2.03. The company’s fifty day moving average is $1.30 and its 200-day moving average is $1.33. Purple Innovation, Inc. has a 12-month low of $0.55 and a 12-month high of $3.33. The company has a quick ratio of 0.75, a current ratio of 1.50 and a debt-to-equity ratio of 0.64.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Purple Innovation by 3.5% during the third quarter. FMR LLC now owns 11,702,309 shares of the company’s stock worth $20,011,000 after acquiring an additional 399,139 shares during the period. AWH Capital L.P. boosted its stake in Purple Innovation by 16.5% in the 3rd quarter. AWH Capital L.P. now owns 577,500 shares of the company’s stock valued at $988,000 after purchasing an additional 82,000 shares during the period. American Century Companies Inc. grew its holdings in Purple Innovation by 55.1% in the 3rd quarter. American Century Companies Inc. now owns 30,205 shares of the company’s stock valued at $52,000 after buying an additional 10,731 shares in the last quarter. SG Americas Securities LLC increased its position in Purple Innovation by 36.6% during the 4th quarter. SG Americas Securities LLC now owns 51,847 shares of the company’s stock worth $53,000 after buying an additional 13,905 shares during the period. Finally, Quadrant Capital Group LLC acquired a new stake in shares of Purple Innovation during the fourth quarter worth $32,000. Institutional investors and hedge funds own 88.41% of the company’s stock.

Analyst Upgrades and Downgrades

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