Purple Innovation (PRPL) to Release Quarterly Earnings on Wednesday

Purple Innovation (NASDAQ:PRPL - Get Free Report) is scheduled to announce its earnings results after the market closes on Wednesday, August 9th. Analysts expect the company to announce earnings of ($0.11) per share for the quarter.

Purple Innovation (NASDAQ:PRPL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 10th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.01. Purple Innovation had a negative net margin of 18.36% and a negative return on equity of 12.57%. The business had revenue of $109.37 million during the quarter, compared to analyst estimates of $104.99 million.

NASDAQ:PRPL traded up $0.03 during trading hours on Friday, hitting $3.21. 22,584 shares of the stock were exchanged, compared to its average volume of 973,642. The company has a market capitalization of $338.62 million, a P/E ratio of -2.94 and a beta of 1.51. The company's 50 day moving average is $2.96 and its two-hundred day moving average is $3.46. Purple Innovation has a twelve month low of $2.20 and a twelve month high of $6.76.

In other news, insider Casey Kale Mcgarvey acquired 22,300 shares of the firm's stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average price of $2.85 per share, for a total transaction of $63,555.00. Following the completion of the acquisition, the insider now owns 108,436 shares in the company, valued at $309,042.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Purple Innovation news, CEO Robert Demartini bought 50,000 shares of the firm's stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average price of $2.97 per share, with a total value of $148,500.00. Following the completion of the transaction, the chief executive officer now owns 240,474 shares in the company, valued at $714,207.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Casey Kale Mcgarvey purchased 22,300 shares of the business's stock in a transaction on Friday, June 2nd. The shares were acquired at an average cost of $2.85 per share, for a total transaction of $63,555.00. Following the completion of the transaction, the insider now directly owns 108,436 shares in the company, valued at $309,042.60. The disclosure for this purchase can be found here. Insiders have purchased a total of 105,599 shares of company stock valued at $318,462 in the last 90 days. 48.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PRPL. Advisor Group Holdings Inc. grew its stake in Purple Innovation by 221.6% in the first quarter. Advisor Group Holdings Inc. now owns 20,616 shares of the company's stock valued at $121,000 after purchasing an additional 14,206 shares in the last quarter. Swiss National Bank grew its stake in shares of Purple Innovation by 7.6% in the first quarter. Swiss National Bank now owns 141,500 shares of the company's stock valued at $828,000 after buying an additional 10,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in Purple Innovation by 353.4% during the first quarter. JPMorgan Chase & Co. now owns 412,644 shares of the company's stock worth $2,414,000 after acquiring an additional 321,643 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Purple Innovation by 103.3% in the first quarter. MetLife Investment Management LLC now owns 26,455 shares of the company's stock valued at $155,000 after acquiring an additional 13,440 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Purple Innovation by 7.0% during the 1st quarter. Rhumbline Advisers now owns 55,320 shares of the company's stock worth $324,000 after purchasing an additional 3,604 shares during the last quarter. Institutional investors and hedge funds own 92.12% of the company's stock.

Separately, Wedbush reiterated an "outperform" rating and issued a $5.00 price target on shares of Purple Innovation in a report on Friday, April 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $5.46.

Get Our Latest Analysis on PRPL

Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. The company also offers bases, foundations, sheets, mattress protectors, bed frames, seat cushions, blankets, and duvets, as well as pet beds. It markets and sells its products through its e-commerce online channels, retail brick-and-mortar wholesale partners, and third-party online retailers, as well as through Purple retail showrooms.

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