Portsea Asset Management LLP Acquires New Position in Blue Apron Holdings Inc (NYSE:APRN)
Portsea Asset Management LLP acquired a new stake in shares of Blue Apron Holdings Inc (NYSE:APRN) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 55,516 shares of the company’s stock, valued at approximately $365,000. Blue Apron accounts for approximately 0.2% of Portsea Asset Management LLP’s portfolio, making the stock its 7th biggest position.
A number of other large investors have also recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC purchased a new position in shares of Blue Apron in the second quarter worth $579,000. Jane Street Group LLC purchased a new stake in shares of Blue Apron during the second quarter valued at $75,000. River & Mercantile Asset Management LLP boosted its position in shares of Blue Apron by 31.0% during the third quarter. River & Mercantile Asset Management LLP now owns 636,352 shares of the company’s stock valued at $5,368,000 after buying an additional 150,441 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Blue Apron during the third quarter valued at $158,000. Finally, Tenzing Global Management LLC increased its holdings in Blue Apron by 109.5% in the 3rd quarter. Tenzing Global Management LLC now owns 550,000 shares of the company’s stock worth $4,637,000 after buying an additional 287,501 shares in the last quarter. Institutional investors and hedge funds own 25.27% of the company’s stock.
APRN has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Blue Apron from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a research note on Wednesday. ValuEngine raised shares of Blue Apron from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, SunTrust Banks reduced their price target on shares of Blue Apron from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, October 31st.
Blue Apron (NYSE:APRN) last released its quarterly earnings results on Thursday, October 31st. The company reported ($1.99) earnings per share for the quarter, missing the consensus estimate of ($1.98) by ($0.01). The firm had revenue of $99.50 million for the quarter, compared to the consensus estimate of $106.92 million. Blue Apron had a negative net margin of 12.55% and a negative return on equity of 57.78%. Blue Apron’s quarterly revenue was down 33.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.18) earnings per share. On average, analysts forecast that Blue Apron Holdings Inc will post -4.56 earnings per share for the current fiscal year.
In related news, CEO Linda F. Kozlowski sold 4,885 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $6.60, for a total transaction of $32,241.00. Following the completion of the sale, the chief executive officer now owns 23,016 shares in the company, valued at $151,905.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 7,622 shares of company stock valued at $50,305 in the last ninety days. 40.83% of the stock is currently owned by corporate insiders.
Blue Apron Profile
Blue Apron Holdings, Inc operates direct-to-consumer platform that delivers original recipes, and fresh and seasonal ingredients. It also operates Blue Apron Market, an e-commerce marketplace that provides cooking tools, utensils, and pantry items. In addition, the company offers Blue Apron Wine, a direct-to-consumer wine delivery service that sells wines, which can be paired with its meals; and supplies poultry, beef, and lamb.
Read More: Dividend Reinvestment Plan (DRIP)
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