Wasatch Advisors LP Has $3.92 Million Position in Purple Innovation, Inc. (NASDAQ:PRPL)

Wasatch Advisors LP increased its stake in shares of Purple Innovation, Inc. (NASDAQ:PRPL) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,251,234 shares of the company’s stock after purchasing an additional 44,414 shares during the quarter. Wasatch Advisors LP owned approximately 2.10% of Purple Innovation worth $3,917,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PRPL. Platform Technology Partners bought a new stake in shares of Purple Innovation during the fourth quarter worth $31,000. American Century Companies Inc. grew its position in Purple Innovation by 55.1% during the 3rd quarter. American Century Companies Inc. now owns 30,205 shares of the company’s stock worth $52,000 after acquiring an additional 10,731 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in Purple Innovation in the 4th quarter worth about $32,000. SG Americas Securities LLC increased its holdings in Purple Innovation by 36.6% in the 4th quarter. SG Americas Securities LLC now owns 51,847 shares of the company’s stock worth $53,000 after purchasing an additional 13,905 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in Purple Innovation by 9.7% in the first quarter. Dynamic Advisor Solutions LLC now owns 751,778 shares of the company’s stock valued at $1,308,000 after purchasing an additional 66,256 shares during the last quarter. 88.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Craig Hallum upped their price objective on Purple Innovation from $1.00 to $2.00 and gave the company a “hold” rating in a research note on Wednesday, March 13th. Roth Capital upgraded shares of Purple Innovation from a “neutral” rating to a “buy” rating in a report on Wednesday, March 13th. Roth Mkm restated a “buy” rating and issued a $2.50 price objective on shares of Purple Innovation in a report on Thursday, March 21st. Finally, Wedbush reaffirmed an “outperform” rating and set a $2.25 target price on shares of Purple Innovation in a research report on Wednesday, May 8th. Two investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.95.

Purple Innovation Trading Down 9.1 %

NASDAQ PRPL traded down $0.10 during mid-day trading on Tuesday, reaching $1.00. 368,862 shares of the stock were exchanged, compared to its average volume of 688,771. The stock has a market cap of $107.68 million, a P/E ratio of -0.75 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, Inc. has a one year low of $0.55 and a one year high of $3.33. The stock has a 50 day simple moving average of $1.27 and a 200-day simple moving average of $1.34.

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

Insiders Place Their Bets

In other Purple Innovation news, CEO Robert Demartini purchased 51,061 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were purchased at an average cost of $0.98 per share, for a total transaction of $50,039.78. Following the acquisition, the chief executive officer now owns 514,730 shares of the company’s stock, valued at $504,435.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 54.30% of the stock is currently owned by corporate insiders.

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.