Purple Innovation, Inc. (NASDAQ:PRPL) Position Lessened by No Street GP LP

No Street GP LP reduced its stake in Purple Innovation, Inc. (NASDAQ:PRPL - Free Report) by 25.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,904,030 shares of the company's stock after selling 1,645,970 shares during the quarter. Purple Innovation comprises approximately 0.3% of No Street GP LP's portfolio, making the stock its 27th biggest holding. No Street GP LP owned approximately 4.55% of Purple Innovation worth $3,825,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Invenomic Capital Management LP purchased a new position in Purple Innovation during the fourth quarter worth about $620,000. Bank of America Corp DE lifted its position in Purple Innovation by 45.1% during the fourth quarter. Bank of America Corp DE now owns 55,984 shares of the company's stock worth $44,000 after buying an additional 17,406 shares during the period. Barclays PLC lifted its position in Purple Innovation by 14.5% during the fourth quarter. Barclays PLC now owns 85,627 shares of the company's stock worth $67,000 after buying an additional 10,824 shares during the period. Townsquare Capital LLC purchased a new position in Purple Innovation during the fourth quarter worth about $73,000. Finally, JPMorgan Chase & Co. increased its stake in Purple Innovation by 2,140.2% during the fourth quarter. JPMorgan Chase & Co. now owns 608,144 shares of the company's stock worth $474,000 after acquiring an additional 580,997 shares during the last quarter. 88.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wedbush restated a "neutral" rating and set a $1.00 price target on shares of Purple Innovation in a research note on Wednesday, March 26th.

Purple Innovation Stock Down 6.4%

PRPL traded down $0.06 on Monday, reaching $0.83. The company's stock had a trading volume of 99,683 shares, compared to its average volume of 540,800. The stock has a market cap of $89.51 million, a price-to-earnings ratio of -0.83 and a beta of 1.62. Purple Innovation, Inc. has a 1 year low of $0.56 and a 1 year high of $1.50. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.30 and a quick ratio of 0.67. The business's 50 day moving average is $0.73 and its 200 day moving average is $0.86.

Purple Innovation (NASDAQ:PRPL - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.03. Purple Innovation had a negative return on equity of 84.67% and a negative net margin of 21.34%. The company had revenue of $104.17 million for the quarter, compared to the consensus estimate of $104.17 million. As a group, research analysts forecast that Purple Innovation, Inc. will post -0.47 EPS for the current fiscal year.

Purple Innovation 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.