Purple Innovation, Inc. (NASDAQ:PRPL) CEO Robert Demartini Buys 51,061 Shares

Purple Innovation, Inc. (NASDAQ:PRPL) CEO Robert Demartini bought 51,061 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was purchased at an average price of $0.98 per share, for a total transaction of $50,039.78. Following the transaction, 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 legal filing with the SEC, which is available through this link.

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

• On Friday, June 28th, Robert Demartini acquired 138,834 shares of Purple Innovation stock. The stock was purchased at an average cost of $1.03 per share, with a total value of $142,999.02.

Purple Innovation Price Performance

Purple Innovation stock opened at $1.04 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.75 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average price of $1.29 and a 200 day moving average price of $1.33. Purple Innovation, Inc. has a 12-month low of $0.55 and a 12-month high of $3.33. The stock has a market cap of $111.99 million, a P/E ratio of -0.78 and a beta of 2.03.

Purple Innovation (NASDAQ:PRPL) last announced its quarterly earnings results 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 firm had revenue of $120.03 million for the quarter, compared to analyst estimates of $122.15 million. Purple Innovation had a negative return on equity of 62.31% and a negative net margin of 26.97%. Sell-side analysts anticipate that Purple Innovation, Inc. will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Purple Innovation

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

Wall Street Analysts Forecast Growth

PRPL has been the subject of a number of research reports. Roth Capital raised shares of Purple Innovation from a “neutral” rating to a “buy” rating in a report on Wednesday, March 13th. Craig Hallum upped their price objective on shares of 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 reissued 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 restated an “outperform” rating and set a $2.25 target price on shares of Purple Innovation in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $3.95.

About Purple Innovation

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.