Gabelli assumed coverage on shares of Blue Apron (NYSE:APRN) in a research note released on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $6.00 price target on the stock.
Other analysts have also recently issued research reports about the company. Barclays cut Blue Apron from an equal weight rating to an underweight rating and lowered their price target for the stock from $5.00 to $3.00 in a research report on Friday, November 3rd. Royal Bank of Canada reaffirmed an outperform rating and set a $6.00 price target (down previously from $8.00) on shares of Blue Apron in a research report on Friday, November 3rd. Zacks Investment Research cut Blue Apron from a hold rating to a sell rating in a report on Wednesday, January 3rd. Stifel Nicolaus reissued a hold rating and issued a $6.00 price objective on shares of Blue Apron in a report on Friday, November 3rd. Finally, Canaccord Genuity decreased their price objective on Blue Apron from $11.00 to $10.00 and set a buy rating for the company in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $6.96.
Shares of Blue Apron (APRN) opened at $3.08 on Friday. Blue Apron has a 52-week low of $2.94 and a 52-week high of $11.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.15 and a quick ratio of 2.73.
In related news, CEO Brad Dickerson acquired 180,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was acquired at an average price of $3.93 per share, with a total value of $707,400.00. Following the acquisition, the chief executive officer now directly owns 40,000 shares in the company, valued at approximately $157,200. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder First Round Capital Iv Partner sold 110,482 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $3.07, for a total value of $339,179.74. The disclosure for this sale can be found here. In the last three months, insiders bought 245,000 shares of company stock valued at $959,450 and sold 550,024 shares valued at $1,685,906.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APRN. Legal & General Group Plc acquired a new position in Blue Apron in the 2nd quarter worth about $187,000. Wells Fargo & Company MN acquired a new position in Blue Apron in the 2nd quarter worth about $627,000. Vanguard Group Inc. acquired a new position in Blue Apron in the 2nd quarter worth about $4,892,000. FMR LLC acquired a new position in Blue Apron in the 2nd quarter worth about $42,090,000. Finally, Balyasny Asset Management LLC acquired a new position in Blue Apron in the 2nd quarter worth about $584,000. 58.62% of the stock is owned by institutional investors.
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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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