Posted by admin on May 19th, 2022
Purple Innovation, Inc. (NASDAQ:PRPL – Get Rating) insider Jack Roddy purchased 6,000 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were acquired at an average price of $4.85 per share, with a total value of $29,100.00. Following the completion of the transaction, the insider now owns 9,000 shares of the company’s stock, valued at $43,650. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Jack Roddy also recently made the following trade(s):
PRPL stock traded up $0.17 during trading on Thursday, reaching $4.93. The company had a trading volume of 1,675,199 shares, compared to its average volume of 2,220,161. Purple Innovation, Inc. has a 52 week low of $2.99 and a 52 week high of $31.55. The company has a market cap of $330.16 million, a P/E ratio of -7.10 and a beta of 1.74. The business has a 50 day moving average of $5.55 and a 200 day moving average of $8.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.89 and a quick ratio of 0.94.
Purple Innovation (NASDAQ:PRPL – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.11. Purple Innovation had a negative net margin of 4.44% and a negative return on equity of 23.87%. The business had revenue of $143.18 million during the quarter, compared to the consensus estimate of $130.12 million. During the same quarter last year, the firm earned $0.17 earnings per share. The business’s revenue for the quarter was down 23.2% on a year-over-year basis. Research analysts expect that Purple Innovation, Inc. will post -0.14 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in PRPL. Strs Ohio bought a new position in shares of Purple Innovation during the first quarter valued at approximately $50,000. Point72 Hong Kong Ltd bought a new position in shares of Purple Innovation during the first quarter valued at approximately $52,000. Kestra Advisory Services LLC bought a new position in shares of Purple Innovation during the first quarter valued at approximately $68,000. Royal Bank of Canada increased its stake in shares of Purple Innovation by 63.5% during the second quarter. Royal Bank of Canada now owns 3,478 shares of the company’s stock valued at $92,000 after purchasing an additional 1,351 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Purple Innovation by 97.9% during the third quarter. Macquarie Group Ltd. now owns 4,429 shares of the company’s stock valued at $93,000 after purchasing an additional 2,191 shares in the last quarter.
PRPL has been the subject of several analyst reports. Truist Financial cut their price target on shares of Purple Innovation from $10.00 to $5.00 and set a “hold” rating for the company in a research report on Wednesday, March 2nd. UBS Group lowered their price objective on shares of Purple Innovation from $10.00 to $6.50 and set a “neutral” rating for the company in a research note on Wednesday, March 2nd. Oppenheimer lowered their price objective on shares of Purple Innovation from $45.00 to $12.00 in a research note on Friday, May 13th. Zacks Investment Research raised shares of Purple Innovation from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 12th. Finally, B. Riley lowered their price objective on shares of Purple Innovation from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.36.
Purple Innovation Company Profile (Get Rating)
Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, weighted blankets, and duvets, as well as pet beds. It markets and sells its products through its e-commerce online channels retail brick-and-mortar wholesale partners, and third-party online retailers, as well as through Purple retail showrooms.
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