Purple Innovation, Inc. (NASDAQ:PRPL) CEO Buys $50,039.78 in Stock

Purple Innovation, Inc. (NASDAQ:PRPL) CEO Robert Demartini bought 51,061 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was bought at an average cost of $0.98 per share, for a total transaction of $50,039.78. Following the completion of the transaction, the chief executive officer now directly owns 514,730 shares of the company’s stock, valued at $504,435.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

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

Purple Innovation Stock Performance

PRPL opened at $1.04 on Monday. Purple Innovation, Inc. has a 1-year low of $0.55 and a 1-year high of $3.33. The company has a market capitalization of $111.99 million, a price-to-earnings ratio of -0.78 and a beta of 2.03. The business has a 50 day moving average price of $1.29 and a two-hundred day moving average price of $1.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.50 and a quick ratio of 0.75.

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

Wall Street Analyst Weigh In

Several research analysts have commented on PRPL shares. Roth Mkm restated a “buy” rating and issued a $2.50 target price on shares of Purple Innovation in a research report on Thursday, March 21st. Wedbush reissued an “outperform” rating and issued a $2.25 price objective on shares of Purple Innovation in a report on Wednesday, May 8th. Craig Hallum lifted their target price on Purple Innovation from $1.00 to $2.00 and gave the company a “hold” rating in a research note on Wednesday, March 13th. Finally, Roth Capital raised Purple Innovation from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Purple Innovation presently has an average rating of “Moderate Buy” and a consensus price target of $3.95.

Hedge Funds Weigh In On Purple Innovation

Several large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised 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 worth $47,000 after purchasing an additional 11,405 shares in the last quarter. Platform Technology Partners acquired a new stake in shares of Purple Innovation during the 4th quarter valued at $31,000. American Century Companies Inc. boosted its stake in shares of Purple Innovation by 55.1% during the 3rd quarter. American Century Companies Inc. now owns 30,205 shares of the company’s stock worth $52,000 after acquiring an additional 10,731 shares in the last quarter. Quadrant Capital Group LLC acquired a new position in shares of Purple Innovation in the 4th quarter worth $32,000. Finally, Caliber Wealth Management LLC raised its position in shares of Purple Innovation by 32.3% during the first quarter. Caliber Wealth Management LLC now owns 33,082 shares of the company’s stock worth $58,000 after purchasing an additional 8,082 shares during the period. Institutional investors own 88.41% of the company’s stock.

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.