Blue Apron (APRN) Trading Up 11.4%

Shares of Blue Apron Holdings Inc (NYSE:APRN) were up 11.4% during mid-day trading on Monday . The company traded as high as $1.45 and last traded at $1.27. Approximately 10,631,088 shares changed hands during mid-day trading, an increase of 192% from the average daily volume of 3,639,114 shares. The stock had previously closed at $1.14.

A number of analysts have issued reports on APRN shares. Zacks Investment Research upgraded shares of Blue Apron from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Tuesday, July 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $6.00 target price on shares of Blue Apron in a research note on Thursday, August 2nd. ValuEngine upgraded shares of Blue Apron from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Morgan Stanley reduced their target price on shares of Blue Apron from $2.00 to $1.90 and set an “equal weight” rating for the company in a research note on Wednesday, July 11th. Finally, Barclays reduced their target price on shares of Blue Apron from $3.50 to $2.50 and set an “equal weight” rating for the company in a research note on Monday, August 6th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Blue Apron currently has an average rating of “Hold” and an average target price of $3.49.

The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.30 and a current ratio of 2.74. The company has a market capitalization of $219.45 million, a price-to-earnings ratio of -0.77 and a beta of -1.11.

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

In other news, major shareholder First Round Capital Iv, L.P. sold 1,300,000 shares of the business’s stock in a transaction on Tuesday, September 25th. The shares were 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Ilia M. Papas sold 133,134 shares of the business’s stock in a transaction on Monday, October 8th. The stock was sold at an average price of $1.49, for a total transaction of $198,369.66. Following the completion of the sale, the chief technology officer now owns 194,777 shares of the company’s stock, valued at $290,217.73. The disclosure for this sale can be found here. Insiders sold 1,722,372 shares of company stock valued at $2,966,888 over the last 90 days. 56.24% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of APRN. Dynamic Technology Lab Private Ltd bought a new position in Blue Apron during the first quarter worth $102,000. Northern Trust Corp increased its position in Blue Apron by 55.8% during the second quarter. Northern Trust Corp now owns 85,533 shares of the company’s stock worth $287,000 after acquiring an additional 30,625 shares during the period. Raymond James Trust N.A. increased its position in Blue Apron by 216.9% during the third quarter. Raymond James Trust N.A. now owns 150,451 shares of the company’s stock worth $259,000 after acquiring an additional 102,982 shares during the period. Millennium Management LLC bought a new position in Blue Apron during the first quarter worth $1,163,000. Finally, River & Mercantile Asset Management LLP increased its position in Blue Apron by 3.7% during the second quarter. River & Mercantile Asset Management LLP now owns 4,025,413 shares of the company’s stock worth $13,425,000 after acquiring an additional 142,660 shares during the period. Institutional investors and hedge funds own 13.09% of the company’s stock.

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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