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

Grove Collaborative Holdings, Inc. (NYSE:GROV) Director Jason Karp bought 15,200 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were acquired at an average price of $1.08 per share, for a total transaction of $16,416.00. Following the completion of the purchase, the director owned 590,200 shares in the company, 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 SEC, which is available at this link.

Grove Collaborative Trading Down 4.5%

Grove Collaborative stock opened at $1.05 on Friday. The firm has a market cap of $44.84 million, a price-to-earnings ratio of -5.53 and a beta of 1.03. The stock has a fifty day simple moving average of $1.09 and a two-hundred day simple moving average of $1.21. 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 quarterly earnings results 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 for the quarter, compared to the consensus estimate of $36.70 million.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Grove Collaborative

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

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.