Hedge Funds Are Gobbling Up Blue Apron

6/17/20

After reading the retail sales data for May, I began analyzing Blue Apron's (NYSE:APRN) SEC Filings to see if I could find some information to support a theory that I'm studying. I was unsuccessful in finding this information, but I came across a couple of filings that intrigued me. My goal with this article is to analyze several 13G fillings that occurred over the past few months and see if we can use this information to shed more light on Blue Apron's future.

I want to be upfront: I strongly do not believe that there's a possibility of a takeover. Furthermore, I do not think that one of these positions will result in an activist being elected to the board. According to Blue Apron's last quarterly filing, Matthew Salzberg holds 68.3% of the voting power. This means that the company is controlled and can control all matters submitted to the company's stockholders for approval. Included in this is the election of directors, and merger and acquisition approval.

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