XTX Topco Ltd Sells 157,920 Shares of Purple Innovation, Inc. (NASDAQ:PRPL)

XTX Topco Ltd lessened its stake in Purple Innovation, Inc. (NASDAQ:PRPL) by 70.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 66,671 shares of the company’s stock after selling 157,920 shares during the quarter. XTX Topco Ltd’s holdings in Purple Innovation were worth $69,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC grew its stake in Purple Innovation by 316.3% in the second quarter. Renaissance Technologies LLC now owns 71,226 shares of the company’s stock valued at $74,000 after purchasing an additional 54,116 shares during the last quarter. Crumly & Associates Inc. grew its stake in Purple Innovation by 35.5% during the 2nd quarter. Crumly & Associates Inc. now owns 66,763 shares of the company’s stock worth $69,000 after buying an additional 17,500 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in Purple Innovation during the 2nd quarter valued at about $43,000. Virtu Financial LLC acquired a new position in shares of Purple Innovation during the first quarter valued at about $112,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Purple Innovation by 51.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 60,009 shares of the company’s stock valued at $105,000 after purchasing an additional 20,400 shares during the last quarter. 88.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PRPL shares. Craig Hallum dropped their price target on Purple Innovation from $2.00 to $1.50 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Wedbush cut shares of Purple Innovation from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $1.75 to $1.10 in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Purple Innovation currently has a consensus rating of “Moderate Buy” and a consensus price target of $2.53.

Purple Innovation Price Performance

NASDAQ:PRPL opened at $0.93 on Thursday. Purple Innovation, Inc. has a one year low of $0.55 and a one year high of $2.33. The stock has a market cap of $100.06 million, a PE ratio of -0.69 and a beta of 2.07. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.67 and a current ratio of 1.43. The stock has a 50 day moving average price of $1.13 and a 200 day moving average price of $1.29.

Purple Innovation (NASDAQ:PRPL) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Purple Innovation had a negative net margin of 19.86% and a negative return on equity of 72.81%. The firm had revenue of $120.27 million for the quarter, compared to analyst estimates of $127.41 million. During the same period in the previous year, the firm posted ($0.20) EPS. Equities research analysts expect that Purple Innovation, Inc. will post -0.48 EPS for the current fiscal year.

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.