Blue Apron Holdings Inc (APRN) Shares Down 2.3% on Insider Selling
Blue Apron Holdings Inc (NASDAQ:APRN) was down 2.3% on Wednesday after an insider sold shares in the company. The company traded as low as $3.03 and last traded at $3.16. Approximately 1,370,000 shares traded hands during trading, a decline of 40% from the average daily volume of 2,300,000 shares. The stock had previously closed at $3.09.
Specifically, major shareholder First Round Capital Iv, L.P. sold 1,460,435 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $3.26, for a total value of $4,761,018.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Several analysts recently weighed in on APRN shares. Goldman Sachs Group, Inc. (The) started coverage on shares of Blue Apron Holdings in a research note on Monday, July 24th. They issued a “buy” rating and a $11.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $5.00 target price (down previously from $6.50) on shares of Blue Apron Holdings in a report on Friday, November 3rd. Zacks Investment Research lowered shares of Blue Apron Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. SunTrust Banks, Inc. restated a “hold” rating and issued a $5.50 target price on shares of Blue Apron Holdings in a report on Tuesday, October 24th. Finally, Citigroup Inc. started coverage on shares of Blue Apron Holdings in a report on Tuesday, July 25th. They issued a “buy” rating and a $10.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. Blue Apron Holdings currently has a consensus rating of “Hold” and an average target price of $7.12.
Blue Apron Holdings (NASDAQ:APRN) last announced its quarterly earnings data on Thursday, November 2nd. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.04). The firm had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $191.47 million. During the same quarter in the prior year, the company earned ($0.56) EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis.
Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new stake in shares of Blue Apron Holdings in the 2nd quarter worth about $31,439,000. Balyasny Asset Management LLC acquired a new stake in shares of Blue Apron Holdings in the 2nd quarter worth about $584,000. Capital World Investors acquired a new stake in shares of Blue Apron Holdings in the 2nd quarter worth about $36,476,000. DekaBank Deutsche Girozentrale bought a new stake in Blue Apron Holdings in the 2nd quarter worth about $220,000. Finally, Tudor Investment Corp ET AL bought a new stake in Blue Apron Holdings in the 2nd quarter worth about $664,000.
Blue Apron Holdings Company Profile
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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