Fmr LLC Has $5.20 Million Stock Position in Purple Innovation, Inc. (NASDAQ:PRPL)

Fmr LLC lessened its stake in Purple Innovation, Inc. (NASDAQ:PRPL) by 11.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,262,957 shares of the company’s stock after selling 663,691 shares during the quarter. Fmr LLC owned approximately 4.89% of Purple Innovation worth $5,203,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PRPL. Crumly & Associates Inc. raised its position in 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 acquiring an additional 15,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Purple Innovation by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,627 shares of the company’s stock valued at $453,000 after purchasing an additional 17,056 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake 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 purchasing an additional 17,425 shares during the last quarter. Vanguard Group Inc. grew its holdings in Purple Innovation by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,903,799 shares of the company’s stock worth $5,053,000 after purchasing an additional 20,189 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Purple Innovation by 51.5% during the first 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 owned by institutional investors.

Purple Innovation Stock Performance

PRPL opened at $0.97 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.30 and a quick ratio of 0.67. The company has a market capitalization of $105.00 million, a PE ratio of -0.97 and a beta of 2.06. The business has a fifty day simple moving average of $0.91 and a 200 day simple moving average of $1.05. Purple Innovation, Inc. has a 1 year low of $0.69 and a 1 year high of $2.33.

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

Wall Street Analysts Forecast Growth

Separately, Wedbush downgraded Purple Innovation from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $1.75 to $1.10 in a research note on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Purple Innovation presently has an average rating of “Moderate Buy” and a consensus price target of $2.53.

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.