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

Purple Innovation, Inc. (NASDAQ:PRPL) CEO Robert Demartini bought 51,061 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was purchased at an average cost of $0.98 per share, with a total value of $50,039.78. Following the acquisition, the chief executive officer now directly owns 514,730 shares in the company, valued at approximately $504,435.40. The acquisition was disclosed in a filing with the SEC, which is accessible 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 acquired at an average price of $1.03 per share, for a total transaction of $142,999.02.

Purple Innovation Stock Performance

PRPL stock opened at $1.04 on Friday. The firm has a fifty day moving average price of $1.29 and a 200 day moving average price of $1.33. Purple Innovation, Inc. has a fifty-two week low of $0.55 and a fifty-two week high of $3.33. The firm has a market cap of $111.99 million, a PE ratio of -0.78 and a beta of 2.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.75 and a current ratio of 1.50.

Purple Innovation (NASDAQ:PRPL) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.04). The business had revenue of $120.03 million during the quarter, compared to analysts’ expectations 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 fiscal year.

Institutional Investors Weigh In On Purple Innovation

Large investors have recently added to or reduced their stakes in the stock. Platform Technology Partners bought a new stake in shares of Purple Innovation in the 4th quarter valued at approximately $31,000. Quadrant Capital Group LLC bought a new stake in Purple Innovation in the fourth quarter worth $32,000. BNP Paribas Financial Markets boosted its stake in Purple Innovation by 73.7% during the first quarter. BNP Paribas Financial Markets now owns 26,879 shares of the company’s stock worth $47,000 after buying an additional 11,405 shares during the period. American Century Companies Inc. increased its position in Purple Innovation by 55.1% during the third 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 last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Purple Innovation by 36.6% in 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 period. 88.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Roth Mkm reissued a “buy” rating and set a $2.50 target price on shares of Purple Innovation in a research note on Thursday, March 21st. Roth Capital raised shares of Purple Innovation from a “neutral” rating to a “buy” rating in a report on Wednesday, March 13th. Wedbush restated an “outperform” rating and set a $2.25 target price on shares of Purple Innovation in a research report on Wednesday, May 8th. Finally, Craig Hallum lifted their price target on shares of Purple Innovation from $1.00 to $2.00 and gave the company a “hold” rating in a report on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Purple Innovation presently has an average rating of “Moderate Buy” and a consensus price target of $3.95.

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.