No Street GP LP Sells 1,645,970 Shares of Purple Innovation, Inc. (NASDAQ:PRPL)

No Street GP LP cut its position in shares of Purple Innovation, Inc. (NASDAQ:PRPL - Free Report) by 25.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,904,030 shares of the company's stock after selling 1,645,970 shares during the quarter. Purple Innovation makes up about 0.3% of No Street GP LP's holdings, making the stock its 27th biggest position. No Street GP LP owned approximately 4.55% of Purple Innovation worth $3,825,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRPL. Barclays PLC boosted its stake in Purple Innovation by 14.5% in the fourth quarter. Barclays PLC now owns 85,627 shares of the company's stock valued at $67,000 after acquiring an additional 10,824 shares during the last quarter. SG Americas Securities LLC boosted its stake in Purple Innovation by 70.2% in the fourth quarter. SG Americas Securities LLC now owns 35,272 shares of the company's stock valued at $28,000 after acquiring an additional 14,548 shares during the last quarter. Bank of America Corp DE boosted its stake in Purple Innovation by 45.1% in the fourth quarter. Bank of America Corp DE now owns 55,984 shares of the company's stock valued at $44,000 after acquiring an additional 17,406 shares during the last quarter. Townsquare Capital LLC purchased a new position in Purple Innovation in the fourth quarter valued at about $73,000. Finally, B.O.S.S. Retirement Advisors LLC purchased a new position in Purple Innovation in the fourth quarter valued at about $78,000. 88.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Purple Innovation Stock Performance

Shares of PRPL stock traded up $0.02 during trading on Friday, reaching $0.89. 332,261 shares of the company's stock traded hands, compared to its average volume of 542,079. The company has a market capitalization of $95.65 million, a P/E ratio of -0.89 and a beta of 1.62. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 1.81. The firm's 50-day moving average is $0.73 and its 200 day moving average is $0.86. Purple Innovation, Inc. has a 1 year low of $0.56 and a 1 year high of $1.50.

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