Blue Apron (APRN) Trading Up 8%
Shares of Blue Apron Holdings, Inc. (NYSE:APRN) were up 8% during mid-day trading on Monday . The stock traded as high as $3.35 and last traded at $3.23. Approximately 6,356,000 shares changed hands during mid-day trading, an increase of 107% from the average daily volume of 3,071,561 shares. The stock had previously closed at $2.99.
Several analysts have issued reports on APRN shares. Zacks Investment Research upgraded Blue Apron from a “sell” rating to a “hold” rating in a research note on Monday, November 6th. Stifel Nicolaus reiterated a “hold” rating and set a $6.00 price objective on shares of Blue Apron in a research note on Friday, November 3rd. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price objective (down from $6.50) on shares of Blue Apron in a research note on Friday, November 3rd. SunTrust Banks reiterated a “hold” rating and set a $5.50 price objective on shares of Blue Apron in a research note on Tuesday, October 24th. Finally, CIBC reiterated a “market perform” rating on shares of Blue Apron in a research note on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $7.04.
The company has a current ratio of 3.15, a quick ratio of 2.73 and a debt-to-equity ratio of 0.48.
Blue Apron (NYSE:APRN) last posted its earnings results on Thursday, November 2nd. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.04). The company had revenue of $210.60 million during the quarter, compared to analyst estimates of $191.47 million. During the same period last year, the firm posted ($0.56) EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. equities analysts anticipate that Blue Apron Holdings, Inc. will post -1.66 earnings per share for the current fiscal year.
In related news, major shareholder First Round Capital Iv, L.P. sold 1,460,435 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $3.26, for a total transaction of $4,761,018.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder First Round Capital Iv Partner sold 65,728 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $3.03, for a total value of $199,155.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,010,459 shares of company stock valued at $6,446,924.
A number of institutional investors have recently bought and sold shares of APRN. FMR LLC purchased a new position in shares of Blue Apron in the 2nd quarter worth about $42,090,000. Capital World Investors purchased a new position in shares of Blue Apron in the 2nd quarter worth about $36,476,000. JPMorgan Chase & Co. purchased a new position in shares of Blue Apron in the 2nd quarter worth about $31,439,000. Victory Capital Management Inc. purchased a new position in shares of Blue Apron in the 2nd quarter worth about $14,010,000. Finally, Laurion Capital Management LP purchased a new position in shares of Blue Apron in the 2nd quarter worth about $10,274,000. Institutional investors and hedge funds own 58.35% of the company’s stock.
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About Blue Apron
Blue Apron Holdings, Inc is a holding company. The Company is focused on providing recipes and fresh ingredients for making home cooking accessible. The Company offers under a novel business model in which it source, process, store and package meal ingredients and ship them directly to consumers. The Company’s core products include Meals and Wine.
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