Blue Apron loses its CEO

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When Blue Apron was preparing for its initial public offering earlier this year, its selling point, like that of many startups, was rapid growth and leadership in an emerging market. The shares were sold at an average price of $3.03, for a total value of $199,155.84.

Covering sell-side analysts have recently weighed in on shares of Blue Apron Holdings, Inc. The shares were sold at an average price of $3.04, for a total transaction of $577,049.76.

It remains to be seen how Blue Apron will fare going forward. The shares were sold at an average price of $3.07, for a total value of $339,179.74.

"I know that I speak for everyone at Blue Apron in thanking Matt for his leadership and tireless dedication to the company", Dickerson said. (NYSE APRN) opened at $2.99 on Thursday. The current consensus recommendation provided by covering analysts is 2.80.

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As a result of this, Blue Apron laid off six percent of its staff (about 320 people) in October.

Ambarella (AMBA) shares surged 17% after the semiconductor firm's earnings beat Street estimates, with consumer IP security and auto among its strongest spots. Blue Apron's revenue was up 2.5% compared to the same quarter a year ago.

Shares of Blue Apron jumped almost 8 percent Friday, a day after the meal-kit company announced that co-founder Matt Salzberg had stepped down as CEO. (:APRN). At the time of writing, the First Call consensus price target for the company is $5.86. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. Finally, Stifel Nicolaus reissued a "buy" rating and issued a $8.00 price target (down from $10.00) on shares of Blue Apron in a research report on Friday, August 11th.

Several institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc bought a new position in shares of Blue Apron in the 2nd quarter worth $187,000. Royal Bank of Canada acquired a new position in shares of Blue Apron in the second quarter valued at about $141,000.

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According to Bishop, "High operating costs driven by marketing and fulfillment are merely symptoms" of Blue Apron's difficulties. DekaBank Deutsche Girozentrale purchased a new position in Blue Apron in the 2nd quarter worth $220,000.

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In other Blue Apron news, major shareholder First Round Capital Iv, L.P. sold 1,460,435 shares of the business's stock in a transaction dated Tuesday, November 7th.

"Blue Apron's challenges are not an indictment on the meal-kit segment", he emphasized.

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Blue Apron's mission is to make incredible home cooking accessible to everyone. "It's our opinion that supermarkets are in the best position to win the largest share of meal kits, as they have the advantage of physical presence in the market and established relationships with customers who've relied on them for years already for similar types of products".

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