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Purple Innovation, Inc. (NASDAQ:PRPL - Get Rating) has earned an average rating of "Hold" from the ten brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $9.11.

A number of equities research analysts recently weighed in on PRPL shares. Oppenheimer reduced their price objective on Purple Innovation from $45.00 to $12.00 in a research report on Friday, May 13th. KeyCorp set a $10.00 target price on Purple Innovation in a research report on Tuesday, July 19th.Purple Innovation Stock Performance

PRPL opened at $3.02 on Wednesday. The stock's 50 day simple moving average is $4.06 and its 200-day simple moving average is $5.70. Purple Innovation has a 1 year low of $2.94 and a 1 year high of $27.84. The stock has a market cap of $250.53 million, a PE ratio of -4.50 and a beta of 1.89. The company has a current ratio of 1.89, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17.

Purple Innovation (NASDAQ:PRPL - Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.12. Purple Innovation had a negative return on equity of 23.87% and a negative net margin of 4.44%. The business had revenue of $143.18 million for the quarter, compared to analyst estimates of $130.12 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The firm's revenue for the quarter was down 23.2% compared to the same quarter last year. Sell-side analysts forecast that Purple Innovation will post -0.16 EPS for the current year. Insiders Place Their Bets

In other Purple Innovation news, Director Coliseum Capital Management, L purchased 960,394 shares of the stock in a transaction dated Tuesday, May 24th. The stock was purchased at an average price of $4.57 per share, with a total value of $4,389,000.58. Following the transaction, the director now owns 40,137,850 shares of the company's stock, valued at $183,429,974.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Purple Innovation news, insider Jack Roddy acquired 6,000 shares of the business's stock in a transaction dated Tuesday, May 17th. The shares were purchased at an average price of $4.85 per share, for a total transaction of $29,100.00. Following the completion of the purchase, the insider now directly owns 9,000 shares of the company's stock, valued at $43,650. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Coliseum Capital Management, L purchased 960,394 shares of the company's stock in a transaction that occurred on Tuesday, May 24th. The shares were purchased at an average price of $4.57 per share, for a total transaction of $4,389,000.58. Following the transaction, the director now owns 40,137,850 shares of the company's stock, valued at approximately $183,429,974.50. The disclosure for this purchase can be found here. Insiders have purchased 4,493,600 shares of company stock worth $20,897,109 in the last three months. Corporate insiders own 35.04% of the company's stock. Hedge Funds Weigh In On Purple Innovation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRPL. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Purple Innovation by 56.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,036 shares of the company's stock valued at $107,000 after acquiring an additional 2,885 shares during the last quarter. Strs Ohio acquired a new position in Purple Innovation during the 1st quarter worth approximately $50,000. Point72 Hong Kong Ltd acquired a new position in Purple Innovation during the 1st quarter worth approximately $52,000. Teacher Retirement System of Texas grew its holdings in Purple Innovation by 18.6% during the 4th quarter. Teacher Retirement System of Texas now owns 11,402 shares of the company's stock worth $151,000 after acquiring an additional 1,785 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Purple Innovation during the 1st quarter worth approximately $68,000. 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.Featured StoriesGet a free copy of the StockNews.com research report on Purple Innovation (PRPL)Medtronic Stock Keeps Ticking Forward Occidental Petroleum Leads Exxon Mobil, Chevron Ahead Of Next Week's Earnings The Bull and Bear Case for Investing in AMDSimpson Manufacturing Quietly Builds Foundations For Growth Oil & Gas Stocks That Will Likely Outperform Despite Falling Crude Prices

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