Purple Innovation Inc (NASDAQ:PRPL) COO John A. Legg Purchases 2,980 Shares

Purple Innovation Inc (NASDAQ:PRPL) COO John A. Legg purchased 2,980 shares of the stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average price of $8.36 per share, with a total value of $24,912.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Purple Innovation stock traded down $0.49 during midday trading on Friday, reaching $7.50. 582 shares of the stock traded hands, compared to its average volume of 54,625. The company has a 50-day simple moving average of $6.74 and a two-hundred day simple moving average of $6.09. Purple Innovation Inc has a 12-month low of $4.20 and a 12-month high of $11.04. The firm has a market cap of $437.94 million, a PE ratio of -14.53 and a beta of -0.26.

Purple Innovation (NASDAQ:PRPL) last announced its earnings results on Tuesday, August 13th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.45. Purple Innovation had a negative return on equity of 275.80% and a negative net margin of 0.96%. The company had revenue of $103.00 million during the quarter, compared to analysts’ expectations of $94.90 million. On average, analysts expect that Purple Innovation Inc will post 1.76 EPS for the current year.

A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Purple Innovation from a “hold” rating to a “strong-buy” rating and set a $8.00 target price for the company in a report on Saturday, August 17th. Wedbush restated an “outperform” rating on shares of Purple Innovation in a report on Wednesday, May 8th. Finally, ValuEngine cut Purple Innovation from a “hold” rating to a “sell” rating in a report on Friday, August 16th.

Institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its holdings in Purple Innovation by 1,705.3% during the 2nd quarter. Wells Fargo & Company MN now owns 11,608 shares of the company’s stock valued at $78,000 after acquiring an additional 10,965 shares during the period. Northern Trust Corp boosted its holdings in Purple Innovation by 7.2% during the 4th quarter. Northern Trust Corp now owns 43,341 shares of the company’s stock valued at $256,000 after acquiring an additional 2,897 shares during the period. Cpwm LLC boosted its holdings in Purple Innovation by 150.0% during the 2nd quarter. Cpwm LLC now owns 50,000 shares of the company’s stock valued at $338,000 after acquiring an additional 30,000 shares during the period. Vanguard Group Inc. raised its position in Purple Innovation by 17.5% in the 2nd quarter. Vanguard Group Inc. now owns 52,910 shares of the company’s stock valued at $357,000 after purchasing an additional 7,879 shares in the last quarter. Finally, Commonwealth Equity Services LLC acquired a new stake in Purple Innovation in the 2nd quarter valued at about $567,000. Institutional investors own 12.89% of the company’s stock.

Purple Innovation Company Profile

Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. It also offers sheets, mattress protectors, platform bases, and foundations. The company markets and sells its products through direct-to-consumer online channels, traditional wholesale partners, and third-party online retailers.

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