Fund 1 Investments LLC Decreases Holdings in Purple Innovation, Inc. (NASDAQ:PRPL)

Fund 1 Investments LLC lowered its stake in shares of Purple Innovation, Inc. (NASDAQ:PRPL) by 58.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 624,626 shares of the company’s stock after selling 890,445 shares during the quarter. Fund 1 Investments LLC owned approximately 0.59% of Purple Innovation worth $643,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PRPL. FMR LLC raised its stake in shares of Purple Innovation by 3.5% during the 3rd quarter. FMR LLC now owns 11,702,309 shares of the company’s stock worth $20,011,000 after buying an additional 399,139 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Purple Innovation in the third quarter valued at $568,000. AWH Capital L.P. boosted its stake in Purple Innovation by 16.5% in the 3rd quarter. AWH Capital L.P. now owns 577,500 shares of the company’s stock worth $988,000 after buying an additional 82,000 shares during the last quarter. American Century Companies Inc. increased its position in shares of Purple Innovation by 55.1% in the third 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. Finally, SG Americas Securities LLC raised its holdings in shares of Purple Innovation by 36.6% during the 4th quarter. SG Americas Securities LLC now owns 51,847 shares of the company’s stock valued at $53,000 after buying an additional 13,905 shares during the period. Institutional investors and hedge funds own 88.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PRPL. Roth Capital upgraded shares of Purple Innovation from a “neutral” rating to a “buy” rating in a report on Wednesday, March 13th. Roth Mkm reiterated a “buy” rating and issued a $2.50 price target on shares of Purple Innovation in a report on Thursday, March 21st. Wedbush reissued an “outperform” rating and issued a $2.25 price target on shares of Purple Innovation in a report on Wednesday, May 8th. Finally, Craig Hallum raised 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Purple Innovation currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.95.

Purple Innovation Stock Down 9.6 %

Shares of PRPL traded down $0.11 during trading hours on Thursday, reaching $1.04. The company’s stock had a trading volume of 526,486 shares, compared to its average volume of 701,057. The company has a 50 day moving average of $1.48 and a two-hundred day moving average of $1.33. The company has a quick ratio of 0.75, a current ratio of 1.50 and a debt-to-equity ratio of 0.64. The firm has a market cap of $111.99 million, a price-to-earnings ratio of -0.86 and a beta of 2.03. Purple Innovation, Inc. has a 1-year low of $0.55 and a 1-year high of $3.33.

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