Purple Innovation, Inc. (NASDAQ:PRPL) CEO Robert Demartini Acquires 138,834 Shares of Stock

Purple Innovation, Inc. (NASDAQ:PRPL) CEO Robert Demartini purchased 138,834 shares of the company’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $1.03 per share, for a total transaction of $142,999.02. Following the completion of the transaction, the chief executive officer now owns 663,669 shares of the company’s stock, valued at approximately $683,579.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Robert Demartini also recently made the following trade(s):

• On Wednesday, June 26th, Robert Demartini acquired 51,061 shares of Purple Innovation stock. The shares were bought at an average price of $0.98 per share, for a total transaction of $50,039.78.

Purple Innovation Stock Performance

Shares of NASDAQ PRPL opened at $1.04 on Friday. The business has a 50 day simple moving average of $1.29 and a 200 day simple moving average of $1.33. Purple Innovation, Inc. has a 52 week low of $0.55 and a 52 week high of $3.33. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.50 and a quick ratio of 0.75.

Purple Innovation (NASDAQ:PRPL) last posted its earnings results on Tuesday, May 7th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.04). Purple Innovation had a negative return on equity of 62.31% and a negative net margin of 26.97%. The company had revenue of $120.03 million during the quarter, compared to analyst estimates of $122.15 million. As a group, sell-side analysts forecast that Purple Innovation, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

PRPL has been the topic of several recent analyst reports. Craig Hallum boosted their price objective on Purple Innovation from $1.00 to $2.00 and gave the stock a “hold” rating in a report on Wednesday, March 13th. Roth Mkm restated a “buy” rating and set a $2.50 price objective on shares of Purple Innovation in a report on Thursday, March 21st. Wedbush reissued an “outperform” rating and issued a $2.25 price target on shares of Purple Innovation in a research note on Wednesday, May 8th. Finally, Roth Capital raised Purple Innovation from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 13th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Purple Innovation currently has a consensus rating of “Moderate Buy” and an average target price of $3.95.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Caliber Wealth Management LLC lifted its holdings in shares of Purple Innovation by 32.3% during the first quarter. Caliber Wealth Management LLC now owns 33,082 shares of the company’s stock worth $58,000 after buying an additional 8,082 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Purple Innovation by 55.1% in the third quarter. American Century Companies Inc. now owns 30,205 shares of the company’s stock valued at $52,000 after purchasing an additional 10,731 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Purple Innovation by 73.7% in the first quarter. BNP Paribas Financial Markets now owns 26,879 shares of the company’s stock valued at $47,000 after purchasing an additional 11,405 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Purple Innovation by 36.6% in the fourth quarter. SG Americas Securities LLC now owns 51,847 shares of the company’s stock valued at $53,000 after purchasing an additional 13,905 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Purple Innovation by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,903,799 shares of the company’s stock valued at $5,053,000 after purchasing an additional 20,189 shares in the last quarter. 88.41% of the stock is currently owned by institutional investors and hedge funds.

About Purple Innovation

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.