Blue Apron
Blue Apron's stock price is on the rise after Jana Partners announced a sizable stake in the company.
The fund, known for its activist investing, disclosed a 2% stake in the meal delivery company on Monday. The shares Jana acquired are worth about $5.6 million, according to an SEC filing.
Blue Apron rose 4.30% after the news.
Jana also announced it still held about 23.3 million shares of Whole Foods. That investment earned the firm $300 million when the upscale grocer announced its sale to Amazon. Jana encouraged Whole Foods to seek a seller and got its wish in a matter of months.
Jana also disclosed a 593,097 share stake in Sprouts Farmers Market, another grocer, worth about $13.45 million.
Blue Apron has been sliding since its initial public offering. The company went public in the shadow of the Amazon-Whole Foods deal and has struggled to prove its value to investors since. Amazon has recently started offering limited runs of similar meal delivery kits on its site.
Blue Apron is down 46.69% since its IPO at $10.00.
