Wasatch Advisors LP grew its stake in Purple Innovation, Inc. (NASDAQ:PRPL - Free Report) by 25.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,800,109 shares of the company's stock after buying an additional 560,407 shares during the quarter. Wasatch Advisors LP owned approximately 2.60% of Purple Innovation worth $2,768,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Purple Innovation by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,903,799 shares of the company's stock worth $5,053,000 after buying an additional 20,189 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Purple Innovation by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,627 shares of the company's stock worth $453,000 after acquiring an additional 17,056 shares during the period. Divisadero Street Capital Management LP bought a new position in shares of Purple Innovation in the second quarter worth about $144,000. Crumly & Associates Inc. grew its position in shares of Purple Innovation by 22.5% during the third quarter. Crumly & Associates Inc. now owns 81,763 shares of the company's stock worth $81,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Purple Innovation by 316.3% during the 2nd quarter. Renaissance Technologies LLC now owns 71,226 shares of the company's stock valued at $74,000 after purchasing an additional 54,116 shares during the period. 88.41% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have weighed in on PRPL shares. Wedbush downgraded Purple Innovation from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $1.75 to $1.10 in a research note on Wednesday, September 4th. Craig Hallum dropped their target price on shares of Purple Innovation from $2.00 to $1.50 and set a "hold" rating for the company in a research report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $2.53.
Check Out Our Latest Research Report on Purple Innovation
Purple Innovation Price Performance
Purple Innovation stock traded up $0.02 during midday trading on Monday, reaching $0.98. 308,431 shares of the stock traded hands, compared to its average volume of 530,962. The stock has a market cap of $105.42 million, a P/E ratio of -0.98 and a beta of 2.08. The stock's fifty day moving average is $0.91 and its 200-day moving average is $1.07. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 1.81. Purple Innovation, Inc. has a 12 month low of $0.65 and a 12 month high of $2.33.
Purple Innovation (NASDAQ:PRPL - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. Purple Innovation had a negative return on equity of 84.67% and a negative net margin of 21.34%. The business had revenue of $118.60 million for the quarter, compared to analysts' expectations of $125.64 million. During the same period in the prior year, the firm earned ($0.18) EPS. As a group, equities research analysts anticipate that Purple Innovation, Inc. will post -0.47 EPS for the current year.
Purple Innovation Company Profile
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Free Report)
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.
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