Grove Collaborative Holdings, Inc. (NYSE:GROV) Director Buys $50,427.30 in Stock

Grove Collaborative Holdings, Inc. (NYSE:GROV) Director John B. Replogle bought 42,735 shares of Grove Collaborative stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average cost of $1.18 per share, with a total value of $50,427.30. Following the acquisition, the director now owns 497,859 shares of the company’s stock, valued at $587,473.62. The trade was a 9.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Grove Collaborative Stock Up 0.8%

GROV opened at $1.19 on Friday. Grove Collaborative Holdings, Inc. has a fifty-two week low of $1.02 and a fifty-two week high of $1.95. The company has a debt-to-equity ratio of 14.58, a quick ratio of 1.45 and a current ratio of 2.07. The company has a fifty day moving average of $1.23 and a two-hundred day moving average of $1.40. The stock has a market capitalization of $47.78 million, a price-to-earnings ratio of -1.72 and a beta of 1.10.

Grove Collaborative (NYSE:GROV) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Grove Collaborative had a negative net margin of 11.35% and a negative return on equity of 417.96%. The firm had revenue of $43.55 million during the quarter, compared to analysts’ expectations of $47.01 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in shares of Grove Collaborative in the fourth quarter valued at about $33,000. Millennium Management LLC grew its position in shares of Grove Collaborative by 93.7% in the fourth quarter. Millennium Management LLC now owns 24,333 shares of the company’s stock valued at $34,000 after purchasing an additional 11,768 shares during the period. Renaissance Technologies LLC grew its position in shares of Grove Collaborative by 35.5% in the fourth quarter. Renaissance Technologies LLC now owns 43,500 shares of the company’s stock valued at $60,000 after purchasing an additional 11,400 shares during the period. Northern Trust Corp grew its position in shares of Grove Collaborative by 54.1% in the fourth quarter. Northern Trust Corp now owns 96,471 shares of the company’s stock valued at $134,000 after purchasing an additional 33,850 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Grove Collaborative by 14.4% in the fourth quarter. Geode Capital Management LLC now owns 208,755 shares of the company’s stock valued at $290,000 after purchasing an additional 26,231 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $1.20 price objective (down previously from $2.00) on shares of Grove Collaborative in a report on Thursday, May 15th.

Grove Collaborative Company Profile

Grove Collaborative Holdings, Inc operates as a plastic neutral consumer products retailer in the United States. It offers household, personal care, beauty, and other consumer products through retail channels, third parties, direct-to-consumer platform, and mobile applications, as well as online store.