Purple Innovation Inc (NASDAQ:PRPL) major shareholder Mvm Funds Llc purchased 4,000 shares of the business’s stock in a transaction dated Wednesday, May 16th. The shares were purchased at an average cost of $7.42 per share, with a total value of $29,680.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of PRPL traded down $0.01 during midday trading on Wednesday, reaching $5.32. 1,938 shares of the stock were exchanged, compared to its average volume of 51,099. Purple Innovation Inc has a 12-month low of $4.71 and a 12-month high of $13.90. The company has a quick ratio of 0.52, a current ratio of 1.28 and a debt-to-equity ratio of 2.01.
Purple Innovation (NASDAQ:PRPL) last posted its quarterly earnings results on Thursday, August 9th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). The firm had revenue of $75.40 million during the quarter, compared to the consensus estimate of $72.10 million. As a group, sell-side analysts anticipate that Purple Innovation Inc will post -0.1 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC purchased a new stake in shares of Purple Innovation during the 1st quarter worth about $100,000. Northern Trust Corp bought a new position in shares of Purple Innovation in the 2nd quarter valued at approximately $328,000. Finally, BlackRock Inc. bought a new position in shares of Purple Innovation in the 2nd quarter valued at approximately $1,941,000. 12.66% of the stock is owned by institutional investors.
A number of research firms have recently weighed in on PRPL. Zacks Investment Research raised Purple Innovation from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a research note on Wednesday, August 15th. Wedbush cut their price target on Purple Innovation from $11.00 to $8.00 and set an “outperform” rating for the company in a research note on Friday, August 10th.
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Purple Innovation Company Profile
Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. The company markets and sells its products through direct-to-consumer and retail channels. Purple Innovation, Inc was founded in 2010 and is headquartered in Alpine, Utah.
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