Robert Demartini Buys 51,061 Shares of Purple Innovation, Inc. (NASDAQ:PRPL) Stock

Purple Innovation, Inc. (NASDAQ:PRPL) CEO Robert Demartini purchased 51,061 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was acquired at an average price of $0.98 per share, for a total transaction of $50,039.78. Following the purchase, the chief executive officer now owns 514,730 shares in the company, valued at approximately $504,435.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, June 28th, Robert Demartini acquired 138,834 shares of Purple Innovation stock. The shares were bought at an average cost of $1.03 per share, with a total value of $142,999.02.

Purple Innovation Stock Performance

Shares of NASDAQ:PRPL opened at $1.04 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.50 and a debt-to-equity ratio of 0.64. Purple Innovation, Inc. has a 12-month low of $0.55 and a 12-month high of $3.33. The company’s 50 day moving average price is $1.29 and its two-hundred day moving average price is $1.34. The firm has a market cap of $111.99 million, a PE ratio of -0.78 and a beta of 2.03.

Purple Innovation (NASDAQ:PRPL) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.04). The company had revenue of $120.03 million for the quarter, compared to analyst estimates of $122.15 million. Purple Innovation had a negative return on equity of 62.31% and a negative net margin of 26.97%. Equities research analysts predict that Purple Innovation, Inc. will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of Purple Innovation during the 1st quarter worth approximately $112,000. Price T Rowe Associates Inc. MD raised 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 valued at $105,000 after purchasing an additional 20,400 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Purple Innovation by 73.7% in the 1st 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. Finally, Caliber Wealth Management LLC boosted its holdings in shares of Purple Innovation by 32.3% in the 1st quarter. Caliber Wealth Management LLC now owns 33,082 shares of the company’s stock valued at $58,000 after purchasing an additional 8,082 shares in the last quarter. Institutional investors and hedge funds own 88.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.