Robert Demartini Buys 138,834 Shares of Purple Innovation, Inc. (NASDAQ:PRPL) Stock

Purple Innovation, Inc. (NASDAQ:PRPL) CEO Robert Demartini acquired 138,834 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $1.03 per share, for a total transaction of $142,999.02. Following the transaction, the chief executive officer now directly owns 663,669 shares in the company, valued at $683,579.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

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

Purple Innovation Stock Performance

NASDAQ:PRPL opened at $1.04 on Friday. 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 firm has a market cap of $111.99 million, a price-to-earnings ratio of -0.78 and a beta of 2.03. Purple Innovation, Inc. has a 52 week low of $0.55 and a 52 week high of $3.33. The firm has a 50-day moving average price of $1.29 and a two-hundred day moving average price of $1.33.

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). The firm had revenue of $120.03 million during the quarter, compared to analysts’ expectations 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, equities analysts expect that Purple Innovation, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PRPL. FMR LLC grew its position 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 valued at $20,011,000 after acquiring an additional 399,139 shares during the period. AWH Capital L.P. grew its position in shares of Purple Innovation by 16.5% during the 3rd quarter. AWH Capital L.P. now owns 577,500 shares of the company’s stock valued at $988,000 after acquiring an additional 82,000 shares during the period. American Century Companies Inc. grew its position in shares of Purple Innovation by 55.1% during the 3rd quarter. American Century Companies Inc. now owns 30,205 shares of the company’s stock valued at $52,000 after acquiring an additional 10,731 shares during the period. SG Americas Securities LLC grew its position in shares of Purple Innovation by 36.6% during the 4th 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 period. Finally, Quadrant Capital Group LLC bought a new position in shares of Purple Innovation during the 4th quarter valued at approximately $32,000. 88.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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