Dynamic Advisor Solutions LLC Acquires 66,256 Shares of Purple Innovation, Inc. (NASDAQ:PRPL)

Dynamic Advisor Solutions LLC raised its position in Purple Innovation, Inc. (NASDAQ:PRPL) by 9.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 751,778 shares of the company’s stock after acquiring an additional 66,256 shares during the quarter. Dynamic Advisor Solutions LLC owned approximately 0.70% of Purple Innovation worth $1,308,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PRPL. Sierra Summit Advisors LLC purchased a new position in shares of Purple Innovation in the fourth quarter valued at about $1,000,000. Wasatch Advisors LP increased its position in shares of Purple Innovation by 34.1% during the fourth quarter. Wasatch Advisors LP now owns 2,206,820 shares of the company’s stock valued at $2,273,000 after buying an additional 561,491 shares during the period. FMR LLC increased its position in shares of Purple Innovation by 3.5% during the third quarter. FMR LLC now owns 11,702,309 shares of the company’s stock valued at $20,011,000 after buying an additional 399,139 shares during the period. AWH Capital L.P. increased its position in shares of Purple Innovation by 16.5% during the third quarter. AWH Capital L.P. now owns 577,500 shares of the company’s stock valued at $988,000 after buying an additional 82,000 shares during the period. Finally, Quadrant Capital Group LLC purchased a new position in shares of Purple Innovation during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 88.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PRPL shares. Wedbush reiterated an “outperform” rating and set a $2.25 price target on shares of Purple Innovation in a research report on Wednesday, May 8th. Craig Hallum boosted their price target on shares of Purple Innovation from $1.00 to $2.00 and gave the company a “hold” rating in a research report on Wednesday, March 13th. Roth Mkm reiterated a “buy” rating and set a $2.50 price target on shares of Purple Innovation in a research report on Thursday, March 21st. Finally, Roth Capital upgraded shares of Purple Innovation from a “neutral” rating to a “buy” rating in a report on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.95.

Purple Innovation Price Performance

Shares of NASDAQ PRPL opened at $0.98 on Thursday. Purple Innovation, Inc. has a fifty-two week low of $0.55 and a fifty-two week high of $3.33. The company has a 50 day simple moving average of $1.31 and a two-hundred day simple moving average of $1.33. The company has a market capitalization of $105.73 million, a price-to-earnings ratio of -0.73 and a beta of 2.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.75 and a current ratio of 1.50.

Purple Innovation (NASDAQ:PRPL) last announced its 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 the consensus estimate of $122.15 million. Purple Innovation had a negative net margin of 26.97% and a negative return on equity of 62.31%. Analysts expect that Purple Innovation, Inc. will post -0.38 EPS for the current fiscal year.

Purple Innovation Company 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.