Grove Collaborative Holdings, Inc. (NYSE:GROV – Get Rating) hit a new 52-week low on Wednesday following insider selling activity. The stock traded as low as $3.73 and last traded at $3.86, with a volume of 1592 shares. The stock had previously closed at $4.24.
Specifically, major shareholder Sculptor Capital Management, I sold 6,000 shares of Grove Collaborative stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $6.86, for a total value of $41,160.00. Following the transaction, the insider now owns 62,985 shares in the company, valued at approximately $432,077.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Wall Street Analysts Forecast Growth
Separately, Telsey Advisory Group initiated coverage on Grove Collaborative in a research report on Monday, June 27th. They set an “outperform” rating and a $10.00 price objective on the stock.
Grove Collaborative Stock Down 15.6 %
Grove Collaborative (NYSE:GROV – Get Rating) last announced its earnings results on Thursday, August 11th. The company reported ($1.36) EPS for the quarter. The business had revenue of $79.28 million during the quarter, compared to analysts’ expectations of $73.10 million.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sculptor Capital LP acquired a new position in Grove Collaborative during the 2nd quarter worth about $43,039,000. Norwest Venture Partners XIII LP acquired a new position in shares of Grove Collaborative in the 2nd quarter valued at about $2,315,000. Board of Trustees of The Leland Stanford Junior University acquired a new position in shares of Grove Collaborative in the 2nd quarter valued at about $272,000. Finally, Exos Asset Management LLC acquired a new position in shares of Grove Collaborative in the 2nd quarter valued at about $25,000. 60.99% of the stock is owned by institutional investors and hedge funds.
About Grove Collaborative
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.
- Get a free copy of the StockNews.com research report on Grove Collaborative (GROV)
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