Charles Schwab Investment Management Inc. Trims Stake in Purple Innovation, Inc. (NASDAQ:PRPL)

Charles Schwab Investment Management Inc. lowered its holdings in Purple Innovation, Inc. (NASDAQ:PRPL) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 435,003 shares of the company’s stock after selling 23,624 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Purple Innovation were worth $339,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in shares of Purple Innovation by 70.2% in the fourth quarter. SG Americas Securities LLC now owns 35,272 shares of the company’s stock worth $28,000 after buying an additional 14,548 shares during the period. Geode Capital Management LLC increased its stake in Purple Innovation by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,346,073 shares of the company’s stock worth $1,331,000 after purchasing an additional 16,033 shares during the period. Barclays PLC lifted its position in Purple Innovation by 283.1% in the third quarter. Barclays PLC now owns 74,803 shares of the company’s stock valued at $74,000 after purchasing an additional 55,275 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Purple Innovation during the third quarter valued at approximately $70,000. Finally, B.O.S.S. Retirement Advisors LLC purchased a new stake in shares of Purple Innovation during the fourth quarter valued at approximately $78,000. Institutional investors own 88.41% of the company’s stock.

Purple Innovation Trading Down 1.4 %

NASDAQ:PRPL opened at $0.75 on Wednesday. The company has a 50-day moving average price of $0.93 and a 200-day moving average price of $0.92. The stock has a market cap of $80.59 million, a price-to-earnings ratio of -0.75 and a beta of 2.37. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 1.81. Purple Innovation, Inc. has a 12 month low of $0.65 and a 12 month high of $2.12.

Purple Innovation (NASDAQ:PRPL) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.07. Purple Innovation had a negative net margin of 21.34% and a negative return on equity of 84.67%. The company had revenue of $128.98 million during the quarter, compared to analyst estimates of $129.39 million. Equities analysts predict that Purple Innovation, Inc. will post -0.47 EPS for the current year.

Analysts Set New Price Targets

Separately, Wedbush restated a “neutral” rating and issued a $1.00 price objective on shares of Purple Innovation in a research report on Wednesday, March 26th.

Purple Innovation Company 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.