Blue Apron (APRN) Trading Up 6.4%

Blue Apron Holdings Inc (NYSE:APRN) was up 6.4% during mid-day trading on Monday . The stock traded as high as $1.51 and last traded at $1.50. Approximately 4,474,765 shares changed hands during trading, an increase of 23% from the average daily volume of 3,648,557 shares. The stock had previously closed at $1.41.

Several equities research analysts have issued reports on APRN shares. Zacks Investment Research raised Blue Apron from a “sell” rating to a “hold” rating in a report on Wednesday, October 3rd. ValuEngine raised Blue Apron from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Morgan Stanley cut their price target on Blue Apron from $2.00 to $1.90 and set an “equal weight” rating for the company in a report on Wednesday, July 11th. Canaccord Genuity reiterated a “buy” rating and set a $6.00 price objective on shares of Blue Apron in a research report on Thursday, August 2nd. Finally, SunTrust Banks reiterated a “hold” rating and set a $2.00 price objective on shares of Blue Apron in a research report on Thursday, August 2nd. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $3.34.

The company has a debt-to-equity ratio of 0.74, a current ratio of 2.74 and a quick ratio of 2.30. The stock has a market capitalization of $271.42 million, a price-to-earnings ratio of -0.91 and a beta of -0.10.

Blue Apron (NYSE:APRN) last posted its quarterly earnings data on Thursday, August 2nd. The company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). The firm had revenue of $179.60 million for the quarter, compared to analysts’ expectations of $188.51 million. Blue Apron had a negative return on equity of 89.80% and a negative net margin of 24.64%. The company’s quarterly revenue was down 24.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.47) EPS. As a group, equities analysts expect that Blue Apron Holdings Inc will post -0.72 earnings per share for the current year.

In related news, major shareholder First Round Capital Iv, L.P. sold 1,300,000 shares of the firm’s stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $1.70, for a total value of $2,210,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Ilia M. Papas sold 133,134 shares of the firm’s stock in a transaction on Monday, October 8th. The stock was sold at an average price of $1.49, for a total value of $198,369.66. Following the completion of the transaction, the chief technology officer now owns 194,777 shares in the company, valued at approximately $290,217.73. The disclosure for this sale can be found here. Insiders have sold a total of 1,722,372 shares of company stock worth $2,966,888 in the last quarter. Company insiders own 56.24% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. River & Mercantile Asset Management LLP increased its position in shares of Blue Apron by 3.7% in the second quarter. River & Mercantile Asset Management LLP now owns 4,025,413 shares of the company’s stock worth $13,425,000 after purchasing an additional 142,660 shares during the period. Millennium Management LLC increased its position in shares of Blue Apron by 285.7% in the second quarter. Millennium Management LLC now owns 2,242,735 shares of the company’s stock worth $7,513,000 after purchasing an additional 1,661,211 shares during the period. Raymond James Trust N.A. increased its position in shares of Blue Apron by 216.9% in the third quarter. Raymond James Trust N.A. now owns 150,451 shares of the company’s stock worth $259,000 after purchasing an additional 102,982 shares during the period. Northern Trust Corp increased its position in shares of Blue Apron by 55.8% in the second quarter. Northern Trust Corp now owns 85,533 shares of the company’s stock worth $287,000 after purchasing an additional 30,625 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Blue Apron in the first quarter worth $102,000. Institutional investors own 13.11% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2018/11/05/blue-apron-aprn-trading-up-6-4.html.

About Blue Apron (NYSE:APRN)

Blue Apron Holdings, Inc operates an e-commerce marketplace that delivers original recipes and fresh ingredients for making home cooking accessible. It provides original recipes with the pre-portioned ingredients to complement tastes and lifestyles of college graduates, young couples, families, singles, and empty nesters.

Featured Article: Trading Strategy Methods and Types

Receive News & Ratings for Blue Apron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blue Apron and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply