FMR LLC & Abigail Johnson Maintain 6.587% Stake in Purple Innovation
Ticker: PRPL · Form: SC 13G/A · Filed: Jan 10, 2024 · CIK: 1643953
| Field | Detail |
|---|---|
| Company | Purple Innovation, Inc. (PRPL) |
| Form Type | SC 13G/A |
| Filed Date | Jan 10, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**FMR LLC and Abigail Johnson still own 6.587% of Purple Innovation, holding steady.**
AI Summary
FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have updated their ownership stake in Purple Innovation, Inc. (PRPL) through an SC 13G/A filing on January 10, 2024. They now collectively beneficially own 6,952,712 shares of Class A Common Stock, representing 6.587% of the company. This matters to investors because it shows a significant institutional holder maintaining a substantial position, indicating continued confidence in Purple Innovation's future, or at least no immediate plans for a major divestment.
Why It Matters
This filing indicates that a large institutional investor, FMR LLC, and its leader, Abigail P. Johnson, continue to hold a significant portion of Purple Innovation, Inc. stock, which can be seen as a vote of confidence in the company's long-term prospects.
Risk Assessment
Risk Level: low — This filing is an amendment showing a stable, significant institutional ownership, which generally reduces perceived risk for other investors.
Analyst Insight
Investors should note that a major institutional holder, FMR LLC, is maintaining its substantial stake in Purple Innovation, Inc., which could signal stability but doesn't necessarily imply an immediate catalyst for price movement. It's a data point for long-term confidence rather than short-term trading.
Key Numbers
- 6,952,712 — Shares Beneficially Owned (This is the total number of Class A Common Stock shares of Purple Innovation, Inc. that FMR LLC and Abigail P. Johnson collectively beneficially own.)
- 6.587% — Percent of Class (This represents the percentage of Purple Innovation, Inc.'s Class A Common Stock that FMR LLC and Abigail P. Johnson collectively own, indicating a significant stake.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
- Purple Innovation, Inc. (company) — the issuer of the securities
- 6,952,712 (dollar_amount) — total shares beneficially owned
- 6.587% (dollar_amount) — percentage of Class A Common Stock owned
Forward-Looking Statements
- FMR LLC will maintain a significant ownership stake in Purple Innovation, Inc. for the foreseeable future. (FMR LLC) — medium confidence, target: 2025-01-10
FAQ
Who are the primary reporting persons in this SC 13G/A filing?
The primary reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing.
What is the total number of Class A Common Stock shares of Purple Innovation, Inc. beneficially owned by the reporting persons?
According to Item 4(a) of the filing, the total amount beneficially owned is 6,952,712 shares.
What percentage of Purple Innovation, Inc.'s Class A Common Stock do FMR LLC and Abigail P. Johnson collectively own?
Item 4(b) specifies that they own 6.587% of the Class A Common Stock.
What is the CUSIP number for Purple Innovation, Inc.'s Class A Common Stock?
The CUSIP number is 74640Y106, as listed in Item 2(e) of the filing.
Under which rule is this Schedule 13G filed?
This Schedule is filed pursuant to Rule 13d-1(b), as indicated by the checked box in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 10, 2024 by Abigail P. Johnson regarding Purple Innovation, Inc. (PRPL).