Grove Collaborative (NYSE:GROV) Director Purchases $56,650.00 in Stock

Grove Collaborative Holdings, Inc. (NYSE:GROV) Director Jason Karp bought 55,000 shares of the stock in a transaction dated 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 acquisition, the director directly owned 575,000 shares of the company’s stock, valued at approximately $592,250. This represents a 10.58% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Grove Collaborative Stock Performance

GROV opened at $1.08 on Friday. The stock has a market capitalization of $46.12 million, a price-to-earnings ratio of -5.68 and a beta of 1.03. The company has a fifty day moving average of $1.09 and a 200 day moving average of $1.21. Grove Collaborative Holdings, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $1.57.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.00.

Institutional Investors Weigh In On Grove Collaborative

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

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.