SG Americas Securities LLC Acquires 13,905 Shares of Purple Innovation, Inc. (NASDAQ:PRPL)

SG Americas Securities LLC grew its holdings in shares of Purple Innovation, Inc. (NASDAQ:PRPL) by 36.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,847 shares of the company’s stock after purchasing an additional 13,905 shares during the quarter. SG Americas Securities LLC’s holdings in Purple Innovation were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of PRPL. 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. AWH Capital L.P. grew its holdings in Purple Innovation by 16.5% during the third quarter. AWH Capital L.P. now owns 577,500 shares of the company’s stock valued at $988,000 after purchasing an additional 82,000 shares during the last quarter. FMR LLC raised its position in shares of Purple Innovation by 3.5% in the third quarter. FMR LLC now owns 11,702,309 shares of the company’s stock valued at $20,011,000 after purchasing an additional 399,139 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Purple Innovation in the third quarter worth $568,000. Finally, Innovis Asset Management LLC boosted its holdings in shares of Purple Innovation by 189.5% during the 3rd quarter. Innovis Asset Management LLC now owns 336,525 shares of the company’s stock worth $575,000 after buying an additional 220,275 shares during the period. Institutional investors and hedge funds own 88.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PRPL. Roth Capital upgraded shares of Purple Innovation from a “neutral” rating to a “buy” rating in a report on Wednesday, March 13th. Wedbush raised their target price on Purple Innovation from $1.25 to $2.25 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Roth Mkm reaffirmed a “buy” rating and issued a $2.50 price target on shares of Purple Innovation in a research report on Thursday, March 21st. Craig Hallum increased their price objective on Purple Innovation from $1.00 to $2.00 and gave the company a “hold” rating in a research report on Wednesday, March 13th. Finally, KeyCorp dropped their target price on shares of Purple Innovation from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Purple Innovation currently has an average rating of “Moderate Buy” and an average price target of $3.95.

Purple Innovation Stock Performance

Shares of NASDAQ PRPL opened at $1.47 on Monday. The firm has a market capitalization of $157.60 million, a price-to-earnings ratio of -1.32 and a beta of 1.98. Purple Innovation, Inc. has a one year low of $0.55 and a one year high of $3.78. The business has a fifty day simple moving average of $1.66 and a 200 day simple moving average of $1.23. The company has a current ratio of 1.28, a quick ratio of 0.68 and a debt-to-equity ratio of 0.23.

Purple Innovation (NASDAQ:PRPL) last posted its earnings results on Tuesday, March 12th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. The business had revenue of $145.94 million for the quarter, compared to analysts’ expectations of $145.43 million. Purple Innovation had a negative net margin of 22.31% and a negative return on equity of 42.60%. Sell-side analysts expect that Purple Innovation, Inc. will post -0.34 EPS for the current year.

Purple Innovation Company 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.