Northcoast Research upgraded shares of Blue Apron (NYSE:APRN) from a sell rating to a neutral rating in a report issued on Friday morning, MarketBeat.com reports. They currently have $3.31 target price on the stock, down from their prior target price of $3.43.
APRN has been the topic of several other reports. Needham & Company LLC reissued a buy rating and issued a $5.00 price target (down from $6.50) on shares of Blue Apron in a research note on Friday, November 3rd. SunTrust Banks reissued a hold rating and issued a $5.50 price target on shares of Blue Apron in a research note on Tuesday, October 24th. KeyCorp reissued a hold rating on shares of Blue Apron in a research note on Friday, December 1st. Morgan Stanley lowered their target price on Blue Apron from $4.70 to $4.50 and set an equal weight rating on the stock in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada lowered Blue Apron from an outperform rating to a sector perform rating and lowered their target price for the stock from $6.00 to $4.00 in a research report on Friday, December 1st. Fifteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Blue Apron has an average rating of Hold and a consensus target price of $6.70.
Blue Apron (NYSE:APRN) opened at $3.56 on Friday. Blue Apron has a 12 month low of $2.94 and a 12 month high of $11.00. The company has a quick ratio of 2.73, a current ratio of 3.15 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $676.58 and a P/E ratio of -3.18.
In related news, CEO Brad Dickerson purchased 180,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was acquired at an average price of $3.93 per share, for a total transaction of $707,400.00. Following the completion of the acquisition, the chief executive officer now owns 40,000 shares of the company’s stock, valued at approximately $157,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder First Round Capital Iv Partner sold 65,728 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $3.03, for a total value of $199,155.84. The disclosure for this sale can be found here. Insiders have bought 245,000 shares of company stock worth $959,450 over the last ninety days.
A number of institutional investors have recently made changes to their positions in APRN. River & Mercantile Asset Management LLP grew its holdings in Blue Apron by 113.9% during the fourth quarter. River & Mercantile Asset Management LLP now owns 2,222,005 shares of the company’s stock worth $8,966,000 after buying an additional 1,183,136 shares in the last quarter. Armistice Capital LLC bought a new stake in Blue Apron during the fourth quarter worth $4,030,000. Goldman Sachs Group Inc. bought a new stake in Blue Apron during the second quarter worth $6,239,000. Vanguard Group Inc. bought a new stake in Blue Apron during the second quarter worth $4,892,000. Finally, Westpac Banking Corp grew its holdings in Blue Apron by 170.2% during the fourth quarter. Westpac Banking Corp now owns 576,324 shares of the company’s stock worth $2,323,000 after buying an additional 363,044 shares in the last quarter. Institutional investors and hedge funds own 75.11% of the company’s stock.
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Blue Apron Company Profile
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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