FMR LLC & Abigail Johnson Maintain 6.587% Stake in Purple Innovation
Ticker: PRPL · Form: SC 13G/A · Filed: 2024-01-10T00:00:00.000Z
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.
From the Filing
EDGAR Filing Documents for 0000315066-24-000042 This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser. SEC.gov EDGAR Latest Filings Filings search tools Filing Detail SEC Home Company Search Current Page Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] SEC Accession No. 0000315066-24-000042 Filing Date 2024-01-10 Accepted 2024-01-10 08:53:27 Documents 1 Document Format Files Seq Description Document Type Size 1 filing.txt SC 13G/A 6440 Complete submission text file 0000315066-24-000042.txt 8218 Mailing Address 245 SUMMER STREET BOSTON MA 02210 Business Address 245 SUMMER STREET BOSTON MA 02210 6175706339 FMR LLC (Filed by) CIK : 0000315066 (see all company filings) EIN. : 043532603 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A SIC : 0000 Mailing Address 4100 N. CHAPEL RIDGE RD SUITE 200 LEHI UT 84043 Business Address 4100 N. CHAPEL RIDGE RD SUITE 200 LEHI UT 84043 801-756-2600 Purple Innovation, Inc. (Subject) CIK : 0001643953 (see all company filings) EIN. : 474078206 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A | Act: 34 | File No.: 005-88966 | Film No.: 24524985 SIC : 2510 Household Furniture (CF Office: 04 Manufacturing)