Bank of Montreal Can grew its holdings in shares of Purple Innovation Inc (NASDAQ:PRPL) by 6.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,226 shares of the company’s stock after purchasing an additional 3,748 shares during the quarter. Bank of Montreal Can owned approximately 0.12% of Purple Innovation worth $1,186,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of PRPL. Pathstone Family Office LLC purchased a new position in shares of Purple Innovation in the 1st quarter worth $28,000. GSA Capital Partners LLP bought a new position in Purple Innovation in the first quarter worth about $60,000. Lido Advisors LLC bought a new position in Purple Innovation in the first quarter worth about $61,000. Hancock Whitney Corp bought a new position in Purple Innovation in the first quarter worth about $73,000. Finally, Morgan Stanley lifted its holdings in Purple Innovation by 24.5% in the first quarter. Morgan Stanley now owns 12,953 shares of the company’s stock worth $74,000 after acquiring an additional 2,545 shares during the last quarter. 64.45% of the stock is currently owned by institutional investors.
A number of equities analysts have issued reports on the stock. Wedbush raised their target price on shares of Purple Innovation from $17.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. KeyCorp raised their price objective on shares of Purple Innovation from $22.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Zacks Investment Research lowered shares of Purple Innovation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Raymond James restated a “buy” rating on shares of Purple Innovation in a research report on Wednesday, August 19th. Finally, ValuEngine cut shares of Purple Innovation from a “hold” rating to a “sell” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Purple Innovation has a consensus rating of “Buy” and an average target price of $21.89.
Shares of PRPL stock opened at $24.29 on Wednesday. The stock has a market cap of $1.31 billion, a P/E ratio of -186.85, a P/E/G ratio of 2.90 and a beta of 1.70. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.45 and a quick ratio of 1.10. The company has a fifty day moving average price of $21.63 and a two-hundred day moving average price of $15.10. Purple Innovation Inc has a one year low of $4.42 and a one year high of $27.75.
Purple Innovation Company Profile
Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. It also offers sheets, mattress protectors, platform bases, and foundations. The company markets and sells its products through direct-to-consumer online channels, traditional wholesale partners, and third-party online retailers.
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