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.
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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.
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