Key Points
- Director Jason Karp bought 55,000 Grove Collaborative shares at an average price of $1.03, investing $56,650 and increasing his direct ownership by 10.58% to 575,000 shares.
- Grove Collaborative shares opened at $1.07 and have traded between $0.86 and $1.57 over the past year. The company recently reported a quarterly loss of $0.03 per share, beating estimates, while revenue of $36.57 million was slightly below expectations.
- Analyst sentiment remains mixed, with one Buy and one Sell rating producing an overall “Hold” consensus and a $2.00 average price target; institutional investors own 91.64% of the stock.
Grove Collaborative Holdings, Inc. (NYSE:GROV - Get Free Report) Director Jason Karp purchased 15,200 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were purchased at an average cost of $1.08 per share, for a total transaction of $16,416.00. Following the transaction, the director directly owned 590,200 shares of the company's stock, valued at approximately $637,416. The trade was a 2.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Grove Collaborative Trading Up 4.3%
Shares of Grove Collaborative stock opened at $1.07 on Thursday. The business has a 50-day moving average price of $1.10 and a two-hundred day moving average price of $1.21. Grove Collaborative Holdings, Inc. has a 1-year low of $0.86 and a 1-year high of $1.57. The company has a market cap of $45.86 million, a P/E ratio of -5.65 and a beta of 1.03.
Grove Collaborative (NYSE:GROV - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.03. The business had revenue of $36.57 million during the quarter, compared to analyst estimates of $36.70 million.
Institutional Investors Weigh In On Grove Collaborative
An institutional investor recently raised its position in Grove Collaborative stock. Vanguard Group Inc. raised its stake in Grove Collaborative Holdings, Inc. (NYSE:GROV - Free Report) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,069,804 shares of the company's stock after purchasing an additional 61,028 shares during the period. Vanguard Group Inc. owned 2.61% of Grove Collaborative worth $1,605,000 as of its most recent SEC filing. Institutional investors own 91.64% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings lowered Grove Collaborative from a "sell (d-)" rating to a "sell (e+)" rating in a research note 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $2.00.
View Our Latest Analysis on Grove Collaborative
About Grove Collaborative
(
Get Free Report)
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.
Further Reading
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