Purple Innovation, Inc. (NASDAQ:PRPL – Free Report) – Stock analysts at KeyCorp dropped their Q3 2023 earnings per share estimates for shares of Purple Innovation in a research note issued on Wednesday, August 9th. KeyCorp analyst B. Thomas now forecasts that the company will earn ($0.05) per share for the quarter, down from their previous estimate of $0.08. The consensus estimate for Purple Innovation’s current full-year earnings is ($0.30) per share. KeyCorp also issued estimates for Purple Innovation’s Q4 2023 earnings at ($0.05) EPS, FY2023 earnings at ($0.43) EPS and FY2024 earnings at ($0.35) EPS.
Purple Innovation (NASDAQ:PRPL – Get Free Report) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.08). The company had revenue of $120.90 million for the quarter, compared to analysts’ expectations of $130.36 million. Purple Innovation had a negative net margin of 24.81% and a negative return on equity of 19.21%. The firm’s revenue for the quarter was down 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) earnings per share.
Check Out Our Latest Research Report on Purple Innovation
Purple Innovation Stock Performance
Purple Innovation stock opened at $2.44 on Monday. Purple Innovation has a one year low of $2.20 and a one year high of $6.76. The stock has a fifty day moving average of $2.91 and a 200 day moving average of $3.31. The stock has a market cap of $257.40 million, a PE ratio of -1.82 and a beta of 1.51.
Insiders Place Their Bets
In other Purple Innovation news, insider Casey Kale Mcgarvey acquired 22,300 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were purchased at an average price of $2.85 per share, for a total transaction of $63,555.00. Following the completion of the purchase, the insider now directly owns 108,436 shares of the company’s stock, valued at $309,042.60. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Casey Kale Mcgarvey acquired 22,300 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were acquired at an average price of $2.85 per share, with a total value of $63,555.00. Following the purchase, the insider now directly owns 108,436 shares of the company’s stock, valued at $309,042.60. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffery Scott Kerby bought 16,350 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average price of $3.45 per share, with a total value of $56,407.50. Following the completion of the purchase, the insider now owns 39,427 shares in the company, valued at $136,023.15. The disclosure for this purchase can be found here. 48.30% of the stock is currently owned by insiders.
Institutional Trading of Purple Innovation
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kesler Norman & Wride LLC acquired a new stake in Purple Innovation during the 2nd quarter worth $28,000. Stifel Financial Corp grew its holdings in Purple Innovation by 50.0% in the 1st quarter. Stifel Financial Corp now owns 15,000 shares of the company’s stock valued at $40,000 after buying an additional 5,000 shares during the period. UBS Group AG increased its holdings in shares of Purple Innovation by 51.0% during the 3rd quarter. UBS Group AG now owns 10,096 shares of the company’s stock worth $41,000 after buying an additional 3,409 shares during the last quarter. Venture Visionary Partners LLC purchased a new position in shares of Purple Innovation in the 2nd quarter worth about $46,000. Finally, Victory Capital Management Inc. purchased a new position in Purple Innovation in the fourth quarter valued at approximately $49,000. 92.12% of the stock is owned by institutional investors and hedge funds.
Purple Innovation Company Profile
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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