Purple Innovation, Inc. (NASDAQ:PRPL) Shares Purchased by Wasatch Advisors LP

Wasatch Advisors LP lifted its position in Purple Innovation, Inc. (NASDAQ:PRPL) by 25.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,800,109 shares of the company’s stock after acquiring an additional 560,407 shares during the period. Wasatch Advisors LP’s holdings in Purple Innovation were worth $2,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in PRPL. Vanguard Group Inc. boosted its holdings in 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Purple Innovation by 51.5% in 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 during the last quarter. Virtu Financial LLC purchased a new stake in Purple Innovation in the first quarter valued at $112,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Purple Innovation in the second quarter valued at $43,000. Finally, Crumly & Associates Inc. boosted its holdings in Purple Innovation by 35.5% in the second quarter. Crumly & Associates Inc. now owns 66,763 shares of the company’s stock valued at $69,000 after purchasing an additional 17,500 shares during the last quarter. 88.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRPL has been the topic of several recent research reports. Wedbush lowered shares of Purple Innovation from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $1.75 to $1.10 in a report on Wednesday, September 4th. Craig Hallum lowered their price target on shares of Purple Innovation from $2.00 to $1.50 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2.53.

Purple Innovation Trading Down 0.5 %

PRPL stock opened at $0.96 on Monday. The company’s 50-day simple moving average is $0.91 and its 200-day simple moving average is $1.07. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 1.81. Purple Innovation, Inc. has a 52-week low of $0.59 and a 52-week high of $2.33. The firm has a market cap of $103.34 million, a P/E ratio of -0.96 and a beta of 2.08.

Purple Innovation (NASDAQ:PRPL) last posted its earnings results on Monday, November 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. The business had revenue of $118.60 million for the quarter, compared to analyst estimates of $125.64 million. Purple Innovation had a negative net margin of 21.34% and a negative return on equity of 84.67%. During the same period in the prior year, the company posted ($0.18) EPS. As a group, equities analysts forecast that Purple Innovation, Inc. will post -0.47 EPS for the current fiscal year.

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.