Charles Schwab Investment Management Inc. Has $453,000 Position in Purple Innovation, Inc. (NASDAQ:PRPL)

Charles Schwab Investment Management Inc. increased its stake in shares of Purple Innovation, Inc. (NASDAQ:PRPL) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 458,627 shares of the company’s stock after acquiring an additional 17,056 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Purple Innovation were worth $453,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PRPL. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Purple Innovation during the second quarter valued at about $43,000. Crumly & Associates Inc. increased its position in Purple Innovation by 35.5% in the 2nd 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 raised its stake in Purple Innovation by 316.3% during the 2nd quarter. Renaissance Technologies LLC now owns 71,226 shares of the company’s stock worth $74,000 after buying an additional 54,116 shares during the period. Finally, Divisadero Street Capital Management LP bought a new position in Purple Innovation in the second quarter worth approximately $144,000. 88.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wedbush downgraded Purple Innovation from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $1.75 to $1.10 in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Purple Innovation currently has an average rating of “Moderate Buy” and an average target price of $2.53.

Purple Innovation Trading Up 3.7 %

NASDAQ:PRPL opened at $0.88 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.30 and a quick ratio of 0.67. Purple Innovation, Inc. has a one year low of $0.69 and a one year high of $2.33. The company has a market cap of $94.78 million, a PE ratio of -0.88 and a beta of 2.06. The firm has a 50-day moving average of $0.91 and a 200-day moving average of $1.04.

Purple Innovation (NASDAQ:PRPL) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The business had revenue of $118.60 million during the quarter, compared to the consensus estimate of $125.64 million. Purple Innovation had a negative return on equity of 84.67% and a negative net margin of 21.34%. During the same quarter in the previous year, the business earned ($0.18) EPS. As a group, equities research analysts expect that Purple Innovation, Inc. will post -0.47 EPS for the current fiscal year.

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.