Blue Apron (APRN) Shares Gap Up to $3.23

Blue Apron Holdings, Inc. (NYSE:APRN) gapped up before the market opened on Tuesday . The stock had previously closed at $3.02, but opened at $3.23. Blue Apron shares last traded at $3.76, with a volume of 11567100 shares traded.

Several equities research analysts recently commented on the stock. Royal Bank Of Canada downgraded shares of Blue Apron from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $6.00 to $4.00 in a research report on Friday. Citigroup downgraded shares of Blue Apron from a “buy” rating to a “neutral” rating and cut their target price for the stock from $10.00 to $5.50 in a research report on Friday, August 11th. Zacks Investment Research downgraded shares of Blue Apron from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. CIBC reiterated a “market perform” rating on shares of Blue Apron in a research report on Monday, August 21st. Finally, SunTrust Banks reiterated a “hold” rating and set a $5.50 target price on shares of Blue Apron in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.04.

The company has a debt-to-equity ratio of 0.48, a current ratio of 3.15 and a quick ratio of 2.73.

Blue Apron (NYSE:APRN) last released its quarterly earnings results on Thursday, November 2nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.04). The business had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $191.47 million. During the same period last year, the firm posted ($0.56) EPS. The business’s revenue was up 2.5% on a year-over-year basis. equities research analysts forecast that Blue Apron Holdings, Inc. will post -1.66 EPS for the current year.

In other news, major shareholder First Round Capital Iv Partner sold 65,728 shares of Blue Apron stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $3.03, for a total value of $199,155.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder First Round Capital Iv, L.P. sold 1,460,435 shares of Blue Apron stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $3.26, for a total transaction of $4,761,018.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,010,459 shares of company stock valued at $6,446,924.

Several large investors have recently added to or reduced their stakes in APRN. Russell Investments Group Ltd. bought a new stake in shares of Blue Apron in the 2nd quarter valued at $464,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Blue Apron in the 2nd quarter valued at $220,000. Obermeyer Wood Investment Counsel Lllp bought a new stake in shares of Blue Apron in the 2nd quarter valued at $110,000. LMR Partners LLP bought a new stake in shares of Blue Apron in the 2nd quarter valued at $2,195,000. Finally, SG Americas Securities LLC bought a new stake in shares of Blue Apron in the 2nd quarter valued at $264,000. Institutional investors own 58.35% of the company’s stock.

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About Blue Apron

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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