Rover Group Target of Unusually Large Options Trading (NASDAQ:ROVR)

Rover Group, Inc. (NASDAQ:ROVRGet Rating) was the recipient of unusually large options trading on Wednesday. Traders bought 17,748 call options on the company. This represents an increase of approximately 6,623% compared to the typical daily volume of 264 call options.

In other Rover Group news, CEO Aaron Easterly sold 12,189 shares of the firm’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $4.96, for a total value of $60,457.44. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Brenton R. Turner sold 13,986 shares of the firm’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $4.96, for a total value of $69,370.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,750 shares of company stock worth $147,560.

Several institutional investors have recently bought and sold shares of the business. Foundry Group LLC bought a new position in shares of Rover Group during the 4th quarter worth approximately $197,620,000. True Wind Capital Management L.P. boosted its holdings in shares of Rover Group by 4.8% during the 1st quarter. True Wind Capital Management L.P. now owns 14,457,597 shares of the company’s stock worth $83,420,000 after buying an additional 658,471 shares in the last quarter. MV Management XI L.L.C. bought a new position in shares of Rover Group during the 4th quarter worth approximately $112,301,000. Foundation Capital LLC bought a new position in shares of Rover Group during the 4th quarter worth approximately $34,390,000. Finally, Broad Bay Capital Management LP bought a new position in shares of Rover Group during the 3rd quarter worth approximately $47,038,000. Hedge funds and other institutional investors own 78.77% of the company’s stock.

Several equities research analysts recently weighed in on the company. DA Davidson cut their price objective on Rover Group from $17.00 to $8.00 in a report on Wednesday, March 9th. Canaccord Genuity Group cut their target price on Rover Group from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, February 28th. Zacks Investment Research raised Rover Group from a “sell” rating to a “hold” rating in a report on Friday, March 11th. Canaccord Genuity Group cut their target price on Rover Group from $14.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, March 8th. Finally, Morgan Stanley cut their target price on Rover Group from $10.00 to $6.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $11.50.

Shares of Rover Group stock opened at $6.19 on Thursday. Rover Group has a one year low of $4.27 and a one year high of $15.59. The stock’s 50-day moving average is $5.68 and its 200 day moving average is $8.02.

Rover Group (NASDAQ:ROVRGet Rating) last issued its quarterly earnings results on Monday, March 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). The business had revenue of $38.00 million during the quarter, compared to analysts’ expectations of $36.50 million. The company’s revenue for the quarter was up 187.9% compared to the same quarter last year. Equities research analysts expect that Rover Group will post -0.06 earnings per share for the current fiscal year.

About Rover Group (Get Rating)

Rover Group, Inc operates an online marketplace for pet care worldwide. It connects pet parents with pet providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, such as doggy daycare, dog walking, drop-in visits, grooming, and training. The company is headquartered in Seattle, Washington.

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