Blue Apron loses its CEO

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SunTrust Banks downgraded shares of Blue Apron from a "buy" rating to a "hold" rating and dropped their price target for the stock from $12.00 to $5.50 in a research note on Friday, August 11th. (NYSE:APRN) remained flat at $$2.99 during trading hours on Friday. Launched in 2012, Blue Apron is reimagining the way that food is produced, distributed, and consumed, and as a result, building a better food system that benefits consumers, food producers, and the planet. The fund bought 523,704 shares of the company's stock, valued at approximately $4,892,000. Balyasny Asset Management LLC purchased a new position in Blue Apron in the 2nd quarter worth $584,000. The company reported ($0.47) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.43) by ($0.04). The new target price indicates a possible downside of -0.16% based on the company's last stock close price. Goldman Sachs Group reaffirmed a "neutral" rating and issued a $11.00 target price on shares of Blue Apron in a research note on Thursday, August 10th.

Prior to joining Blue Apron in February 2016, Dickerson held senior leadership roles at Under Armour. During the same quarter in the previous year, the firm earned ($0.56) earnings per share. DekaBank Deutsche Girozentrale purchased a new position in Blue Apron in the 2nd quarter worth $220,000. Just days before Blue Apron's IPO, Amazon announced that it had acquired Whole Foods, and soon after that Jeff Bezos' behemoth filed a meal kit trademark. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company's stock. The original version of this piece can be accessed at https://www.thelincolnianonline.com/2017/11/30/blue-apron-holdings-inc-aprn-major-shareholder-first-round-capital-iv-partner-sells-104139-shares-of-stock-updated.html. The disclosure for this sale can be found here. With the last close down -14.96% from the 200-day moving average, compared to the S&P 500 which has increased 0.01% over the same time period.

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Matt Salzberg Blue Apron
Blue Apron co-founder Matt Salzberg has stepped down as president and c.e.o. and has been named executive chairman

Blue Apron hopes a new leader can reverse its decline. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and global trademark & copyright laws.

Will a new head chef calm the chaos in Blue Apron's kitchen?

Blue Apron's mission is to make incredible home cooking accessible to everyone. As Under Armour's Chief Operating Officer, he was also instrumental in driving operational efficiencies across the company's global supply chain that included multiple distribution channels.


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