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

Purple Innovation, Inc. (NASDAQ:PRPL) CEO Robert Demartini bought 138,834 shares of the stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $1.03 per share, with a total value of $142,999.02. Following the acquisition, the chief executive officer now directly owns 663,669 shares in the company, valued at approximately $683,579.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 purchased at an average price of $0.98 per share, with a total value of $50,039.78.

Purple Innovation Stock Performance

Shares of PRPL opened at $1.04 on Friday. Purple Innovation, Inc. has a 1-year low of $0.55 and a 1-year high of $3.33. The company has a 50-day moving average of $1.29 and a 200 day moving average of $1.33. The firm has a market capitalization of $111.99 million, a price-to-earnings ratio of -0.78 and a beta of 2.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.50 and a quick ratio of 0.75.

Purple Innovation (NASDAQ:PRPL) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.04). Purple Innovation had a negative net margin of 26.97% and a negative return on equity of 62.31%. The business had revenue of $120.03 million during the quarter, compared to the consensus estimate of $122.15 million. On average, research analysts expect that Purple Innovation, Inc. will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Purple Innovation

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets raised its holdings in shares of Purple Innovation by 73.7% in the 1st quarter. BNP Paribas Financial Markets now owns 26,879 shares of the company’s stock valued at $47,000 after purchasing an additional 11,405 shares in the last quarter. Platform Technology Partners bought a new stake in shares of Purple Innovation in the 4th quarter valued at about $31,000. American Century Companies Inc. raised its holdings in shares of Purple Innovation by 55.1% in the 3rd quarter. American Century Companies Inc. now owns 30,205 shares of the company’s stock valued at $52,000 after purchasing an additional 10,731 shares in the last quarter. Quadrant Capital Group LLC bought a new stake in shares of Purple Innovation in the 4th quarter valued at about $32,000. Finally, Caliber Wealth Management LLC raised its holdings in shares of Purple Innovation by 32.3% in the 1st quarter. Caliber Wealth Management LLC now owns 33,082 shares of the company’s stock valued at $58,000 after purchasing an additional 8,082 shares in the last quarter. Institutional investors own 88.41% of the company’s stock.

Analyst Upgrades and Downgrades

PRPL has been the subject of several analyst reports. 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 Mkm restated a “buy” rating and issued a $2.50 target price on shares of Purple Innovation in a report on Thursday, March 21st. Roth Capital upgraded shares of Purple Innovation from a “neutral” rating to a “buy” rating in a report on Wednesday, March 13th. Finally, Craig Hallum lifted their price objective 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.