Wasatch Advisors LP Increases Holdings in Purple Innovation, Inc. (NASDAQ:PRPL)

Wasatch Advisors LP lifted its position in Purple Innovation, Inc. (NASDAQ:PRPL) by 25.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,800,109 shares of the company’s stock after purchasing an additional 560,407 shares during the period. Wasatch Advisors LP owned 2.60% of Purple Innovation worth $2,768,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Purple Innovation by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,627 shares of the company’s stock valued at $453,000 after purchasing an additional 17,056 shares during the period. Crumly & Associates Inc. boosted its holdings in shares of Purple Innovation by 22.5% in the third quarter. Crumly & Associates Inc. now owns 81,763 shares of the company’s stock valued at $81,000 after purchasing an additional 15,000 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in Purple Innovation by 42.5% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 58,452 shares of the company’s stock worth $58,000 after buying an additional 17,425 shares in the last quarter. Divisadero Street Capital Management LP bought a new position in Purple Innovation in the second quarter worth approximately $144,000. Finally, Renaissance Technologies LLC raised its stake in Purple Innovation by 316.3% in the second quarter. Renaissance Technologies LLC now owns 71,226 shares of the company’s stock worth $74,000 after buying an additional 54,116 shares in the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.

Analyst Upgrades and Downgrades

PRPL has been the subject of a number of recent research reports. Craig Hallum reduced their price objective on shares of Purple Innovation from $2.00 to $1.50 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Wedbush downgraded shares of Purple Innovation from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $1.75 to $1.10 in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2.53.

Purple Innovation Stock Performance

Shares of PRPL stock opened at $0.96 on Monday. The business’s fifty day simple moving average is $0.91 and its 200-day simple moving average is $1.07. The company has a market cap of $103.34 million, a PE ratio of -0.96 and a beta of 2.08. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 1.81. Purple Innovation, Inc. has a 12-month low of $0.59 and a 12-month high of $2.33.

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

Purple Innovation Profile

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.