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

Grove Collaborative Holdings, Inc. (NYSE:GROV) Director Jason Karp bought 15,200 shares of the stock in a transaction on Wednesday, September 2nd. The shares were acquired at an average cost of $1.08 per share, with a total value of $16,416.00. Following 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Grove Collaborative Trading Up 4.3%

Shares of Grove Collaborative stock opened at $1.07 on Thursday. The firm’s 50 day moving average is $1.10 and its 200 day moving average is $1.21. The firm has a market capitalization of $45.86 million, a PE ratio of -5.65 and a beta of 1.03. Grove Collaborative Holdings, Inc. has a 1 year low of $0.86 and a 1 year 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, topping the consensus estimate 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.

Institutional Investors Weigh In On Grove Collaborative

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

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Grove Collaborative from a “sell (d-)” rating to a “sell (e+)” rating in a report 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 MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.