Traders Purchase Large Volume of Rover Group Call Options (NASDAQ:ROVR)

Rover Group, Inc. (NASDAQ:ROVR – Get Rating) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 17,748 call options on the stock. This represents an increase of 6,623% compared to the typical daily volume of 264 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ROVR shares. Canaccord Genuity Group decreased their target price on shares of Rover Group from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, February 28th. JMP Securities decreased their price target on shares of Rover Group from $8.00 to $6.00 and set a “market outperform” rating for the company in a report on Wednesday, January 11th. Morgan Stanley cut their price objective on shares of Rover Group from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 18th. Finally, DA Davidson cut their price objective on shares of Rover Group from $6.00 to $5.75 and set a “buy” rating on the stock in a research note on Wednesday, November 9th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.25.

Insider Activity

In other news, COO Brenton R. Turner sold 19,421 shares of the company’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $4.50, for a total transaction of $87,394.50. Following the sale, the chief operating officer now directly owns 1,080,391 shares in the company, valued at approximately $4,861,759.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Brenton R. Turner sold 19,421 shares of the company’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $4.50, for a total transaction of $87,394.50. Following the sale, the chief operating officer now directly owns 1,080,391 shares in the company, valued at approximately $4,861,759.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aaron Easterly sold 30,117 shares of the company’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $4.50, for a total transaction of $135,526.50. Following the sale, the chief executive officer now owns 3,297,247 shares in the company, valued at $14,837,611.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,431 shares of company stock worth $271,940. 36.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Rover Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Foundry Group Next LLC acquired a new stake in shares of Rover Group in the fourth quarter valued at about $74,386,000. BlackRock Inc. grew its position in shares of Rover Group by 6.5% in the third quarter. BlackRock Inc. now owns 6,084,231 shares of the company’s stock valued at $20,321,000 after purchasing an additional 371,250 shares during the period. Vanguard Group Inc. grew its position in shares of Rover Group by 7.3% in the third quarter. Vanguard Group Inc. now owns 5,681,478 shares of the company’s stock valued at $18,976,000 after purchasing an additional 388,655 shares during the period. FMR LLC grew its position in shares of Rover Group by 135.3% in the second quarter. FMR LLC now owns 3,002,090 shares of the company’s stock valued at $11,288,000 after purchasing an additional 1,725,978 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Rover Group by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,886,198 shares of the company’s stock valued at $6,922,000 after purchasing an additional 76,515 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.

Rover Group Stock Performance

ROVR stock opened at $4.17 on Thursday. The firm has a market cap of $766.24 million, a PE ratio of -34.75 and a beta of 1.52. The firm’s fifty day moving average is $3.94 and its 200 day moving average is $4.05. Rover Group has a one year low of $3.14 and a one year high of $6.52.

Rover Group (NASDAQ:ROVR – Get Rating) last released its quarterly earnings results on Monday, February 27th. The company reported $0.03 EPS for the quarter. The company had revenue of $52.00 million for the quarter, compared to analyst estimates of $50.15 million. Rover Group had a negative net margin of 12.63% and a negative return on equity of 3.99%. The firm’s revenue was up 36.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) earnings per share.

Rover Group Company Profile

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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.