Joseph B. Megibow Acquires 22,709 Shares of Purple Innovation Inc (PRPL) Stock

Purple Innovation Inc (NASDAQ:PRPL) CEO Joseph B. Megibow purchased 22,709 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were acquired at an average price of $6.67 per share, for a total transaction of $151,469.03. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PRPL traded up $0.02 on Friday, reaching $6.83. 9,462 shares of the company’s stock were exchanged, compared to its average volume of 21,177. The firm has a market capitalization of $369.07 million, a PE ratio of -13.39 and a beta of -0.08. Purple Innovation Inc has a twelve month low of $4.20 and a twelve month high of $8.83. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 6.41.

Purple Innovation (NASDAQ:PRPL) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $1.22. Purple Innovation had a negative net margin of 0.87% and a positive return on equity of 44.68%. The firm had revenue of $83.65 million for the quarter, compared to analyst estimates of $71.20 million. As a group, analysts predict that Purple Innovation Inc will post -0.38 earnings per share for the current fiscal year.



A number of hedge funds have recently modified their holdings of PRPL. Vanguard Group Inc. raised its stake in Purple Innovation by 112.0% during the third quarter. Vanguard Group Inc. now owns 41,721 shares of the company’s stock worth $242,000 after purchasing an additional 22,043 shares during the period. Vanguard Group Inc raised its stake in Purple Innovation by 112.0% during the third quarter. Vanguard Group Inc now owns 41,721 shares of the company’s stock worth $242,000 after purchasing an additional 22,043 shares during the period. Northern Trust Corp raised its stake in Purple Innovation by 7.2% during the fourth quarter. Northern Trust Corp now owns 43,341 shares of the company’s stock worth $256,000 after purchasing an additional 2,897 shares during the period. LPL Financial LLC raised its stake in Purple Innovation by 347.2% during the third quarter. LPL Financial LLC now owns 56,800 shares of the company’s stock worth $329,000 after purchasing an additional 44,100 shares during the period. Finally, Royce & Associates LP raised its stake in Purple Innovation by 22.2% during the fourth quarter. Royce & Associates LP now owns 275,000 shares of the company’s stock worth $1,620,000 after purchasing an additional 50,000 shares during the period. 13.00% of the stock is currently owned by institutional investors.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Purple Innovation from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. Wedbush restated an “outperform” rating on shares of Purple Innovation in a research report on Wednesday, May 8th.

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About Purple Innovation

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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