Purple Innovation, Inc. (NASDAQ:PRPL) Shares Sold by Fmr LLC

FMR LLC decreased its stake in shares of Purple Innovation, Inc. (NASDAQ:PRPL - Free Report) by 11.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,262,957 shares of the company's stock after selling 663,691 shares during the quarter. FMR LLC owned about 4.89% of Purple Innovation worth $5,203,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Crumly & Associates Inc. lifted its position in shares of Purple Innovation by 22.5% during the 3rd quarter. Crumly & Associates Inc. now owns 81,763 shares of the company's stock worth $81,000 after purchasing an additional 15,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Purple Innovation by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 458,627 shares of the company's stock worth $453,000 after purchasing an additional 17,056 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in Purple Innovation by 42.5% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 58,452 shares of the company's stock valued at $58,000 after buying an additional 17,425 shares during the last quarter. Vanguard Group Inc. increased its stake in Purple Innovation by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,903,799 shares of the company's stock valued at $5,053,000 after buying an additional 20,189 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Purple Innovation by 51.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 60,009 shares of the company's stock worth $105,000 after buying an additional 20,400 shares during the last quarter. 88.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wedbush downgraded shares of Purple Innovation from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $1.75 to $1.10 in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $2.53.

Purple Innovation Stock Performance

Shares of NASDAQ PRPL traded down $0.04 during trading on Friday, hitting $0.94. 420,807 shares of the company were exchanged, compared to its average volume of 524,197. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.30 and a quick ratio of 0.67. Purple Innovation, Inc. has a 1 year low of $0.69 and a 1 year high of $2.33. The firm's fifty day moving average price is $0.91 and its 200 day moving average price is $1.05.

Purple Innovation (NASDAQ:PRPL - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.02. The firm had revenue of $118.60 million for the quarter, compared to the consensus estimate of $125.64 million. Purple Innovation had a negative net margin of 21.34% and a negative return on equity of 84.67%. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. As a group, analysts anticipate that Purple Innovation, Inc. will post -0.47 EPS for the current year.

Purple Innovation 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.