Blue Apron (NYSE:APRN) had its price objective cut by equities researchers at Morgan Stanley from $4.70 to $4.50 in a research note issued to investors on Wednesday. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 29.68% from the stock’s current price.
A number of other equities research analysts also recently commented on APRN. Zacks Investment Research downgraded shares of Blue Apron from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. SunTrust Banks reaffirmed a “hold” rating and issued a $5.50 target price on shares of Blue Apron in a research report on Tuesday, October 24th. Barclays downgraded shares of Blue Apron from an “equal weight” rating to an “underweight” rating and cut their target price 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 issued a $6.00 target price (down previously from $8.00) on shares of Blue Apron in a research report on Friday, November 3rd. Finally, Canaccord Genuity cut their target price on shares of Blue Apron from $11.00 to $10.00 and set a “buy” rating for the company in a research 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 company. The company has an average rating of “Hold” and a consensus price target of $6.61.
Blue Apron (NYSE APRN) traded up $0.12 during trading hours on Wednesday, reaching $3.47. 3,191,486 shares of the company’s stock were exchanged, compared to its average volume of 2,665,661. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.73 and a current ratio of 3.15. Blue Apron has a fifty-two week low of $2.94 and a fifty-two week high of $11.00. The company has a market cap of $657.58 and a P/E ratio of -3.10.
In other Blue Apron news, SVP Timothy J. Smith acquired 25,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was purchased at an average price of $3.89 per share, with a total value of $97,250.00. Following the transaction, the senior vice president now directly owns 28,386 shares in the company, valued at approximately $110,421.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder First Round Capital Iv Partner sold 189,819 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $3.04, for a total transaction of $577,049.76. The disclosure for this sale can be found here. In the last three months, insiders have bought 245,000 shares of company stock valued at $959,450 and have sold 361,895 shares valued at $1,103,691.
A number of institutional investors have recently modified their holdings of APRN. Bank of New York Mellon Corp bought a new position in Blue Apron in the 3rd quarter worth $120,000. Royal Bank of Canada bought a new position in Blue Apron in the 2nd quarter worth $141,000. BBR Partners LLC bought a new position in Blue Apron in the 3rd quarter worth $147,000. BlueCrest Capital Management Ltd bought a new position in Blue Apron in the 2nd quarter worth $280,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Blue Apron by 3,473.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 76,878 shares of the company’s stock worth $310,000 after buying an additional 79,157 shares during the period. 58.74% 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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