Jason Karp Buys 15,200 Shares of Grove Collaborative (NYSE:GROV) Stock

Grove Collaborative Holdings, Inc. (NYSE:GROV) Director Jason Karp purchased 15,200 shares of Grove Collaborative stock in a transaction dated Wednesday, September 2nd. The shares were acquired at an average cost of $1.08 per share, with a total value of $16,416.00. Following the transaction, the director directly owned 590,200 shares in the company, valued at approximately $637,416. The trade was a 2.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Grove Collaborative Price Performance

Shares of NYSE:GROV traded up $0.04 during trading on Wednesday, hitting $1.07. The company’s stock had a trading volume of 462,496 shares, compared to its average volume of 63,639. The firm has a market cap of $45.86 million, a price-to-earnings ratio of -5.65 and a beta of 1.03. The company has a 50-day moving average of $1.10 and a 200-day moving average of $1.22. Grove Collaborative Holdings, Inc. has a 12 month low of $0.86 and a 12 month high of $1.57.

Grove Collaborative (NYSE:GROV) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.03. The business had revenue of $36.57 million for the quarter, compared to the consensus estimate of $36.70 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Grove Collaborative from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $2.00.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Grove Collaborative stock. Vanguard Group Inc. increased its position in Grove Collaborative Holdings, Inc. (NYSE:GROV) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,069,804 shares of the company’s stock after acquiring an additional 61,028 shares during the quarter. Vanguard Group Inc. owned about 2.61% of Grove Collaborative worth $1,605,000 at the end of the most recent quarter. Institutional investors own 91.64% of the company’s stock.

Grove Collaborative Company Profile

Grove Collaborative is a direct-to-consumer digital marketplace offering a broad assortment of sustainable home and personal care products. Operating as a public benefit corporation, the company provides an online platform designed to simplify the shopping experience for eco-friendly essentials, including cleaning supplies, personal care items, baby and family products, wellness goods and pet care.

The company’s business model centers on a subscription-based delivery service that enables members to schedule regular shipments of both third-party and private-label products.