Grove Collaborative (NYSE:GROV) Director Jason Karp Acquires 15,200 Shares

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

Grove Collaborative Price Performance

Shares of GROV stock traded up $0.04 on Wednesday, hitting $1.07. 462,496 shares of the stock traded hands, 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. Grove Collaborative Holdings, Inc. has a 52 week low of $0.86 and a 52 week high of $1.57. The firm has a 50 day simple moving average of $1.10 and a two-hundred day simple moving average of $1.22.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Grove Collaborative

An institutional investor recently raised its stake in Grove Collaborative stock. Susquehanna International Group LLP raised its stake in Grove Collaborative Holdings, Inc. (NYSE:GROV) by 371.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,637 shares of the company’s stock after acquiring an additional 53,283 shares during the period. Susquehanna International Group LLP owned approximately 0.16% of Grove Collaborative worth $101,000 as of its most recent SEC filing. Institutional investors own 91.64% of the company’s stock.

About Grove Collaborative

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.