Grove Collaborative (NYSE:GROV) Director Purchases 55,000 Shares

Grove Collaborative Holdings, Inc. (NYSE:GROV) Director Jason Karp purchased 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 owned 575,000 shares of the company’s stock, valued at approximately $592,250. This represents a 10.58% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Grove Collaborative Price Performance

Shares of Grove Collaborative stock traded up $0.04 on Wednesday, hitting $1.07. The company had a trading volume of 462,496 shares, compared to its average volume of 63,639. The stock has a 50-day moving average of $1.10 and a 200-day moving average of $1.22. Grove Collaborative Holdings, Inc. has a twelve month low of $0.86 and a twelve month high of $1.57. The firm has a market capitalization of $45.86 million, a P/E ratio of -5.65 and a beta of 1.03.

Grove Collaborative (NYSE:GROV) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The company had revenue of $36.57 million for the quarter, compared to analyst estimates of $36.70 million.

Hedge Funds Weigh In On Grove Collaborative

A hedge fund recently raised its stake in Grove Collaborative stock. Vanguard Group Inc. grew its holdings in Grove Collaborative Holdings, Inc. (NYSE:GROV) by 6.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,069,804 shares of the company’s stock after purchasing an additional 61,028 shares during the period. Vanguard Group Inc. owned about 2.61% of Grove Collaborative worth $1,605,000 at the end of the most recent quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded 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 data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.00.

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.