Purple Innovation, Inc. (NASDAQ:PRPL) Stock Holdings Trimmed by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC decreased its holdings in Purple Innovation, Inc. (NASDAQ:PRPL) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 706,778 shares of the company’s stock after selling 20,000 shares during the quarter. Dynamic Advisor Solutions LLC owned 0.66% of Purple Innovation worth $699,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PRPL. Patriot Financial Group Insurance Agency LLC bought a new position in Purple Innovation in the 2nd quarter valued at about $43,000. BNP Paribas Financial Markets lifted its position in Purple Innovation by 73.7% in the first quarter. BNP Paribas Financial Markets now owns 26,879 shares of the company’s stock worth $47,000 after purchasing an additional 11,405 shares during the period. Crumly & Associates Inc. boosted its stake in Purple Innovation by 35.5% during the second quarter. Crumly & Associates Inc. now owns 66,763 shares of the company’s stock valued at $69,000 after buying an additional 17,500 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Purple Innovation by 316.3% in the 2nd quarter. Renaissance Technologies LLC now owns 71,226 shares of the company’s stock valued at $74,000 after acquiring an additional 54,116 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Purple Innovation by 51.5% during 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 in the last quarter. 88.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Craig Hallum dropped their target price on shares of Purple Innovation from $2.00 to $1.50 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Wedbush lowered Purple Innovation from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $1.75 to $1.10 in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2.53.

Purple Innovation Stock Down 0.7 %

Purple Innovation stock opened at $0.90 on Friday. Purple Innovation, Inc. has a twelve month low of $0.55 and a twelve month high of $2.33. 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 firm has a market cap of $96.94 million, a PE ratio of -0.92 and a beta of 2.07. The firm’s 50 day moving average price is $1.07 and its two-hundred day moving average price is $1.26.

Purple Innovation (NASDAQ:PRPL) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $120.27 million during the quarter, compared to analyst estimates of $127.41 million. Purple Innovation had a negative return on equity of 72.81% and a negative net margin of 19.86%. During the same period last year, the company posted ($0.20) earnings per share. On average, research analysts predict 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.