Key Points
- CFO Robert Gerard Lucian bought 60,000 shares on May 4 at an average price of $0.49 each for a total of $29,400, now owning 60,000 shares (reported as an ∞ increase).
- Purple Innovation reported Q1 EPS of ($0.13) (in line with estimates) and revenue of $95.73M (below estimates); the stock trades near $0.52 with a $56M market cap, and analysts' consensus is a "Reduce" rating with a $0.65 price target.
Purple Innovation, Inc. (NASDAQ:PRPL - Get Free Report) CFO Robert Gerard Lucian acquired 60,000 shares of the stock in a transaction dated Monday, May 4th. The shares were acquired at an average cost of $0.49 per share, with a total value of $29,400.00. Following the completion of the transaction, the chief financial officer owned 60,000 shares in the company, valued at approximately $29,400. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Purple Innovation Stock Performance
NASDAQ:PRPL opened at $0.52 on Thursday. The stock has a 50-day simple moving average of $0.65 and a 200-day simple moving average of $0.71. The stock has a market cap of $56.05 million, a P/E ratio of -0.89 and a beta of 1.52. Purple Innovation, Inc. has a 1 year low of $0.47 and a 1 year high of $1.26.
Purple Innovation (NASDAQ:PRPL - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). The business had revenue of $95.73 million for the quarter, compared to analyst estimates of $100.92 million. On average, equities research analysts predict that Purple Innovation, Inc. will post -0.28 EPS for the current year.
Institutional Investors Weigh In On Purple Innovation
Hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP increased its position in Purple Innovation by 10.6% during the 3rd quarter. Wasatch Advisors LP now owns 5,116,685 shares of the company's stock worth $4,780,000 after purchasing an additional 488,751 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Purple Innovation during the 3rd quarter worth $757,000. Jane Street Group LLC acquired a new position in shares of Purple Innovation during the 2nd quarter worth $253,000. Crumly & Associates Inc. grew its stake in shares of Purple Innovation by 8.2% during the 4th quarter. Crumly & Associates Inc. now owns 275,613 shares of the company's stock worth $190,000 after purchasing an additional 21,000 shares during the period. Finally, State Street Corp grew its stake in shares of Purple Innovation by 8.8% during the 4th quarter. State Street Corp now owns 259,838 shares of the company's stock worth $179,000 after purchasing an additional 21,100 shares during the period. 88.41% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on PRPL shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Purple Innovation in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Purple Innovation to a "hold" rating in a research report on Saturday, April 11th. UBS Group dropped their target price on shares of Purple Innovation from $0.85 to $0.65 and set a "neutral" rating on the stock in a research report on Wednesday, April 29th. Finally, KeyCorp downgraded shares of Purple Innovation from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $0.65.
View Our Latest Report on PRPL
Purple Innovation Company Profile
(
Get Free Report)
Purple Innovation, Inc is a consumer products company specializing in the design, development and manufacture of comfort technology for the sleep and home furnishings markets. Best known for its proprietary Hyper-Elastic Polymer “Grid” technology, the company engineers mattresses, pillows and cushions that aim to combine pressure relief, support and temperature neutrality. Purple offers an array of sleep products alongside related lifestyle and wellness solutions.
The company's product portfolio includes mattress models in various sizes and thicknesses, adjustable bed frames, pillows, sheets and mattress protectors, as well as seat cushions and pet beds.
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