Renaissance Technologies LLC Has $448,000 Stock Holdings in Purple Innovation, Inc. $PRPL

Renaissance Technologies LLC decreased its position in Purple Innovation, Inc. (NASDAQ:PRPL) by 11.8% during the 1st quarter, HoldingsChannel reports. The fund owned 677,654 shares of the company’s stock after selling 90,841 shares during the quarter. Renaissance Technologies LLC’s holdings in Purple Innovation were worth $448,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Purple Innovation by 45.1% during the 4th quarter. Bank of America Corp DE now owns 55,984 shares of the company’s stock worth $44,000 after acquiring an additional 17,406 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Purple Innovation by 14.6% in the fourth quarter. Jane Street Group LLC now owns 150,197 shares of the company’s stock valued at $104,000 after purchasing an additional 19,156 shares during the last quarter. State Street Corp raised its holdings in shares of Purple Innovation by 8.8% in the fourth quarter. State Street Corp now owns 259,838 shares of the company’s stock valued at $179,000 after purchasing an additional 21,100 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Purple Innovation in the first quarter worth $28,000. Finally, XTX Topco Ltd bought a new stake in shares of Purple Innovation in the second quarter worth $30,000. Institutional investors own 88.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PRPL. KeyCorp cut shares of Purple Innovation from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of Purple Innovation in a research report on Friday, July 17th. UBS Group cut their price target on shares of Purple Innovation from $21.25 to $16.25 and set a “neutral” rating on the stock in a research report on Wednesday, April 29th. Finally, Wall Street Zen downgraded shares of Purple Innovation from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Purple Innovation currently has an average rating of “Reduce” and an average price target of $16.25.

Purple Innovation Stock Down 7.5%

NASDAQ:PRPL opened at $6.31 on Tuesday. The firm has a market capitalization of $27.51 million, a price-to-earnings ratio of -0.56 and a beta of 1.46. Purple Innovation, Inc. has a twelve month low of $6.12 and a twelve month high of $31.50. The stock’s 50 day moving average price is $8.67 and its two-hundred day moving average price is $12.79.

Purple Innovation (NASDAQ:PRPL) last announced its quarterly earnings data on Monday, August 10th. The company reported ($1.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.18) by $0.66. The company had revenue of $98.27 million for the quarter, compared to the consensus estimate of $104.39 million. As a group, analysts anticipate that Purple Innovation, Inc. will post -6.63 earnings per share for the current year.

Purple Innovation Profile

Purple Innovation, Inc is a consumer products company specializing in the design, development and manufacture of comfort technology for the sleep and home furnishings markets. Best known for its proprietary Hyper-Elastic Polymer “Grid” technology, the company engineers mattresses, pillows and cushions that aim to combine pressure relief, support and temperature neutrality. Purple offers an array of sleep products alongside related lifestyle and wellness solutions.

The company’s product portfolio includes mattress models in various sizes and thicknesses, adjustable bed frames, pillows, sheets and mattress protectors, as well as seat cushions and pet beds.