Purple Innovation (NASDAQ:PRPL – Get Rating) had its price objective cut by investment analysts at Bank of America from $3.60 to $3.00 in a research report issued to clients and investors on Friday, The Fly reports. Bank of America‘s price objective points to a potential upside of 13.21% from the stock’s current price.
Separately, KeyCorp boosted their price objective on shares of Purple Innovation from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Wednesday, February 1st.
Purple Innovation Trading Down 19.7 %
NASDAQ:PRPL opened at $2.65 on Friday. The company has a fifty day moving average of $4.82 and a 200 day moving average of $4.40. Purple Innovation has a 52 week low of $2.33 and a 52 week high of $7.97. The company has a quick ratio of 0.95, a current ratio of 1.79 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $243.35 million, a P/E ratio of -4.02 and a beta of 1.66.
Insider Buying and Selling at Purple Innovation
In related news, Director Coliseum Capital Management, L acquired 5,960,320 shares of Purple Innovation stock in a transaction on Monday, February 13th. The shares were acquired at an average cost of $4.50 per share, with a total value of $26,821,440.00. Following the transaction, the director now owns 46,814,450 shares in the company, valued at $210,665,025. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 24.92% of the company’s stock.
Institutional Trading of Purple Innovation
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Coliseum Capital Management LLC grew its position in shares of Purple Innovation by 32.1% in the 2nd quarter. Coliseum Capital Management LLC now owns 40,854,130 shares of the company’s stock worth $125,014,000 after buying an additional 9,926,332 shares during the period. FMR LLC grew its position in shares of Purple Innovation by 6.6% in the 2nd quarter. FMR LLC now owns 12,151,872 shares of the company’s stock worth $37,185,000 after buying an additional 749,328 shares during the period. BlackRock Inc. grew its position in shares of Purple Innovation by 0.4% in the 1st quarter. BlackRock Inc. now owns 3,622,189 shares of the company’s stock worth $21,190,000 after buying an additional 15,241 shares during the period. Freshford Capital Management LLC grew its position in shares of Purple Innovation by 101.2% in the 3rd quarter. Freshford Capital Management LLC now owns 3,496,000 shares of the company’s stock worth $14,159,000 after buying an additional 1,758,100 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Purple Innovation by 52.0% in the 1st quarter. Bank of America Corp DE now owns 3,232,656 shares of the company’s stock worth $18,911,000 after buying an additional 1,105,782 shares during the period. 92.19% of the stock is owned by hedge funds and other institutional investors.
About Purple Innovation
Purple Innovation, Inc engages in the design and manufacture of comfort technology products. It offers mattresses, bed pillows, seat cushions, mattress protector, and bamboo sheets. The company was founded by Terry V. Pearce and Tony Marion Pearce in 1989 and is headquartered in Lehi, Utah.
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