On June 28, 2024, Robert Demartini, CEO of Purple Innovation Inc (PRPL, Financial), purchased 200,000 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns a total of 663,669 shares of Purple Innovation Inc.
Purple Innovation Inc, known for its innovative comfort products including mattresses and pillows, has seen a notable insider buying trend. Over the past year, there have been three insider buys and zero insider sells. This recent purchase by the CEO marks a significant addition to his holdings, reflecting a strong commitment to the company's future.
On the day of the transaction, shares of Purple Innovation Inc were priced at $1.02. The company currently holds a market cap of $111.79 million. According to the GF Value, the intrinsic value estimate of the stock is $2.31, indicating a price-to-GF-Value ratio of 0.44. This suggests that the stock might be undervalued, labeled as "Possible Value Trap, Think Twice" based on its GF Value.
The GF Value is calculated considering historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This insider transaction adds to the data points that potential investors might consider, especially in light of the company's valuation and market performance.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
