Blue Apron (APRN) Shares Down 24.4%

Blue Apron Holdings Inc (NYSE:APRN)’s share price was down 24.4% during trading on Thursday . The stock traded as low as $1.82 and last traded at $1.83. Approximately 13,923,383 shares traded hands during trading, an increase of 262% from the average daily volume of 3,848,001 shares. The stock had previously closed at $2.42.

Several equities analysts recently commented 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. Morgan Stanley cut their target price on shares of Blue Apron from $4.50 to $2.00 and set an “equal weight” rating for the company in a research note on Friday, May 4th. Citigroup upped their target price on shares of Blue Apron from $2.25 to $2.50 and gave the company a “neutral” rating in a research note on Friday, May 4th. Stifel Nicolaus cut their target price on shares of Blue Apron from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Friday, May 4th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $8.00 target price on shares of Blue Apron in a research note on Thursday, May 3rd. Thirteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.25.

The company has a market cap of $453.59 million, a PE ratio of -1.12 and a beta of -1.06. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.46 and a current ratio of 2.91.

Blue Apron (NYSE:APRN) last announced its quarterly earnings data on Thursday, August 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.17). Blue Apron had a negative net margin of 22.76% and a negative return on equity of 155.60%. The company had revenue of $179.60 million during the quarter, compared to analysts’ expectations of $188.51 million. During the same quarter in the prior year, the company posted ($0.47) EPS. The business’s revenue was down 24.6% on a year-over-year basis. equities research analysts forecast that Blue Apron Holdings Inc will post -0.64 earnings per share for the current year.

In other news, SVP Timothy J. Smith sold 19,534 shares of the stock in a transaction on Friday, July 6th. The shares were sold at an average price of $3.44, for a total value of $67,196.96. Following the completion of the transaction, the senior vice president now owns 103,223 shares in the company, valued at approximately $355,087.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brad Dickerson sold 21,732 shares of the stock in a transaction on Friday, July 6th. The shares were sold at an average price of $3.44, for a total transaction of $74,758.08. Following the completion of the transaction, the chief executive officer now owns 252,921 shares of the company’s stock, valued at approximately $870,048.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 598,510 shares of company stock valued at $1,880,698. Corporate insiders own 56.24% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Blue Apron in the 1st quarter valued at $102,000. Bayesian Capital Management LP acquired a new stake in shares of Blue Apron during the 1st quarter worth about $205,000. Teton Advisors Inc. acquired a new stake in shares of Blue Apron during the 1st quarter worth about $225,000. Goldman Sachs Group Inc. increased its position in shares of Blue Apron by 3,473.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 76,878 shares of the company’s stock worth $310,000 after purchasing an additional 79,157 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Blue Apron by 39.8% during the 4th quarter. Geode Capital Management LLC now owns 156,799 shares of the company’s stock worth $631,000 after purchasing an additional 44,602 shares in the last quarter. Institutional investors own 11.70% of the company’s stock.

Blue Apron Company Profile

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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