Jason Karp Buys 55,000 Shares of Grove Collaborative (NYSE:GROV) Stock

Grove Collaborative Holdings, Inc. (NYSE:GROV) Director Jason Karp bought 55,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was bought at an average cost of $1.03 per share, for a total transaction of $56,650.00. Following the purchase, the director directly owned 575,000 shares of the company’s stock, valued at approximately $592,250. This trade represents a 10.58% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Grove Collaborative Stock Performance

GROV traded up $0.04 during midday trading on Wednesday, reaching $1.07. 462,496 shares of the company were exchanged, compared to its average volume of 63,639. Grove Collaborative Holdings, Inc. has a one year low of $0.86 and a one year high of $1.57. The stock has a market capitalization of $45.86 million, a P/E ratio of -5.65 and a beta of 1.03. The stock’s 50-day simple moving average is $1.10 and its 200 day simple moving average is $1.22.

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

Institutional Investors Weigh In On Grove Collaborative

A hedge fund recently raised its stake in Grove Collaborative stock. Susquehanna International Group LLP lifted its holdings in Grove Collaborative Holdings, Inc. (NYSE:GROV) by 371.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 67,637 shares of the company’s stock after purchasing an additional 53,283 shares during the quarter. Susquehanna International Group LLP owned about 0.16% of Grove Collaborative worth $101,000 as of its most recent SEC filing. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings cut 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Grove Collaborative has a consensus rating of “Hold” and a consensus price target of $2.00.

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.