Purple Innovation, Inc. (NASDAQ:PRPL) Insider Jack Roddy Acquires 3,000 Shares

Purple Innovation, Inc. (NASDAQ:PRPL – Get Rating) insider Jack Roddy acquired 3,000 shares of Purple Innovation stock in a transaction on Friday, May 13th. The stock was acquired at an average cost of $4.40 per share, for a total transaction of $13,200.00. Following the completion of the purchase, the insider now owns 3,000 shares of the company’s stock, valued at approximately $13,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PRPL opened at $4.90 on Tuesday. The stock has a market capitalization of $328.15 million, a P/E ratio of -7.31 and a beta of 1.74. Purple Innovation, Inc. has a 12 month low of $2.99 and a 12 month high of $33.22. The firm’s fifty day simple moving average is $5.64 and its 200 day simple moving average is $8.84. The company has a current ratio of 1.62, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Purple Innovation (NASDAQ:PRPL – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.11. The business had revenue of $143.18 million for the quarter, compared to analysts’ expectations of $130.12 million. Purple Innovation had a negative net margin of 4.44% and a negative return on equity of 26.47%. The firm’s revenue was down 23.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 EPS. On average, equities research analysts predict that Purple Innovation, Inc. will post -0.14 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of PRPL. Strs Ohio acquired a new stake in Purple Innovation in the 1st quarter valued at $50,000. Kestra Advisory Services LLC acquired a new stake in Purple Innovation in the 1st quarter valued at $68,000. Royal Bank of Canada increased its stake in Purple Innovation by 63.5% in the 2nd quarter. Royal Bank of Canada now owns 3,478 shares of the company’s stock valued at $92,000 after buying an additional 1,351 shares during the last quarter. Macquarie Group Ltd. increased its stake in Purple Innovation by 97.9% in the 3rd quarter. Macquarie Group Ltd. now owns 4,429 shares of the company’s stock valued at $93,000 after buying an additional 2,191 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Purple Innovation by 56.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,036 shares of the company’s stock valued at $107,000 after buying an additional 2,885 shares during the last quarter.

PRPL has been the topic of a number of recent research reports. Bank of America reduced their price objective on shares of Purple Innovation from $5.50 to $4.50 and set an “underperform” rating on the stock in a research note on Wednesday, March 2nd. Zacks Investment Research raised shares of Purple Innovation from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 12th. Truist Financial reduced their price target on shares of Purple Innovation from $10.00 to $5.00 and set a “hold” rating on the stock in a research report on Wednesday, March 2nd. KeyCorp reduced their price target on shares of Purple Innovation from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, March 28th. Finally, Oppenheimer reduced their price target on shares of Purple Innovation from $45.00 to $12.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.36.

About Purple Innovation (Get Rating)

Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, weighted blankets, and duvets, as well as pet beds. It markets and sells its products through its e-commerce online channels retail brick-and-mortar wholesale partners, and third-party online retailers, as well as through Purple retail showrooms.

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