Neil Parikh Sells 5,804 Shares of Casper Sleep Inc. (NYSE:CSPR) Stock

Casper Sleep Inc. (NYSE:CSPR) Director Neil Parikh sold 5,804 shares of Casper Sleep stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $12.00, for a total value of $69,648.00. Following the completion of the transaction, the director now owns 1,085,674 shares of the company’s stock, valued at approximately $13,028,088. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Neil Parikh also recently made the following trade(s):

  • On Monday, April 5th, Neil Parikh sold 120,000 shares of Casper Sleep stock. The shares were sold at an average price of $7.22, for a total value of $866,400.00.

CSPR traded down $0.32 during trading on Thursday, hitting $9.78. 681,195 shares of the stock were exchanged, compared to its average volume of 960,723. The company has a market cap of $405.28 million, a price-to-earnings ratio of -5.13 and a beta of 2.71. Casper Sleep Inc. has a 1-year low of $5.53 and a 1-year high of $12.00. The company’s fifty day simple moving average is $8.63. The company has a quick ratio of 0.84, a current ratio of 1.23 and a debt-to-equity ratio of 7.75.

Casper Sleep (NYSE:CSPR) last released its quarterly earnings results on Thursday, May 13th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.03. The company had revenue of $127.70 million for the quarter, compared to analyst estimates of $123.46 million. Casper Sleep had a negative return on equity of 242.35% and a negative net margin of 14.91%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts forecast that Casper Sleep Inc. will post -1.16 EPS for the current fiscal year.

CSPR has been the subject of several recent research reports. Roth Capital lifted their price objective on Casper Sleep from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, May 14th. Zacks Investment Research cut Casper Sleep from a “buy” rating to a “hold” rating in a research note on Wednesday, February 17th. Wedbush upgraded Casper Sleep from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $10.00 to $10.50 in a research note on Monday, April 26th. Morgan Stanley boosted their target price on Casper Sleep from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 25th. Finally, Citigroup boosted their target price on Casper Sleep from $10.00 to $12.00 in a research note on Thursday, February 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $10.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSPR. Citigroup Inc. increased its position in Casper Sleep by 224.5% during the fourth quarter. Citigroup Inc. now owns 5,185 shares of the company’s stock worth $32,000 after buying an additional 3,587 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Casper Sleep during the first quarter worth approximately $42,000. New York State Common Retirement Fund increased its position in Casper Sleep by 28.2% during the fourth quarter. New York State Common Retirement Fund now owns 7,720 shares of the company’s stock worth $47,000 after buying an additional 1,700 shares during the period. Twinbeech Capital LP acquired a new position in shares of Casper Sleep in the fourth quarter valued at approximately $70,000. Finally, Virtu Financial LLC acquired a new position in shares of Casper Sleep in the first quarter valued at approximately $87,000. 48.73% of the stock is currently owned by institutional investors.

Casper Sleep Company Profile

Casper Sleep Inc, together with its subsidiaries, designs and sells sleep products to consumers in the United States, Canada, and Europe. It offers a range of mattresses, pillows, sheets, duvets, bedroom furniture, sleep accessories, sleep technology, and other sleep-centric products and services. As of December 31, 2020, the company distributed its products through its e-commerce platform, 67 Casper retail stores, and 20 retail partners.

Further Reading: Understanding Price to Earnings Ratio (PE)

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