Grove Collaborative (NYSE:GROV) Director Jason Karp Buys 55,000 Shares

Grove Collaborative Holdings, Inc. (NYSE:GROV) Director Jason Karp bought 55,000 shares of Grove Collaborative stock in a transaction that occurred on Tuesday, September 1st. The stock was purchased at an average price of $1.03 per share, with a total value of $56,650.00. Following the purchase, the director directly owned 575,000 shares in the company, valued at $592,250. The trade was a 10.58% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Grove Collaborative Stock Performance

Shares of GROV opened at $1.07 on Thursday. The stock has a 50-day moving average of $1.10 and a two-hundred day moving average of $1.21. The stock has a market cap of $45.86 million, a P/E ratio of -5.65 and a beta of 1.03. Grove Collaborative Holdings, Inc. has a one year low of $0.86 and a one year high of $1.57.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Grove Collaborative

A hedge fund recently raised its stake in Grove Collaborative stock. Susquehanna International Group LLP boosted its stake in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) by 371.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 67,637 shares of the company’s stock after purchasing an additional 53,283 shares during the period. Susquehanna International Group LLP owned approximately 0.16% of Grove Collaborative worth $101,000 at the end of the most recent quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Grove Collaborative Company Profile

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.