Grove Collaborative (NYSE:GROV) Shares Gap Up to $5.08

Shares of Grove Collaborative Holdings, Inc. (NYSE:GROVGet Rating) gapped up prior to trading on Tuesday . The stock had previously closed at $5.08, but opened at $5.57. Grove Collaborative shares last traded at $5.27, with a volume of 763 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group assumed coverage on shares of Grove Collaborative in a report on Monday, June 27th. They set an “outperform” rating and a $10.00 price target for the company.

Grove Collaborative Stock Performance

The stock’s 50-day simple moving average is $5.08.

Grove Collaborative (NYSE:GROVGet Rating) last announced its earnings results on Thursday, August 11th. The company reported ($1.36) EPS for the quarter. The company had revenue of $79.28 million during the quarter, compared to the consensus estimate of $73.10 million.

Insider Activity

In related news, major shareholder Sculptor Capital Management, I sold 75,000 shares of the stock in a transaction on Monday, September 19th. The shares were sold at an average price of $5.48, for a total transaction of $411,000.00. Following the transaction, the insider now directly owns 55,000 shares of the company’s stock, valued at $301,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Exos Asset Management LLC bought a new stake in shares of Grove Collaborative during the second quarter valued at approximately $25,000. Board of Trustees of The Leland Stanford Junior University acquired a new position in Grove Collaborative during the second quarter worth $272,000. Norwest Venture Partners XIII LP bought a new position in shares of Grove Collaborative in the second quarter valued at $2,315,000. Finally, Sculptor Capital LP acquired a new position in shares of Grove Collaborative during the second quarter valued at about $43,039,000. 60.99% of the stock is owned by institutional investors and hedge funds.

Grove Collaborative Company Profile

(Get Rating)

Grove Collaborative Holdings, Inc operates as a plastic neutral consumer products retailer in the United States. It provides household cleaning, personal care, laundry, clean beauty, baby, and pet care products for households. The company is based in San Francisco, California.

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