Insider Selling: Rover Group, Inc. (NASDAQ:ROVR) Major Shareholder Sells $597,834.24 in Stock

Rover Group, Inc. (NASDAQ:ROVR) major shareholder Group Next L.P. Foundry sold 92,544 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $6.46, for a total transaction of $597,834.24. Following the sale, the insider now directly owns 13,137,411 shares in the company, valued at $84,867,675.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Group Next L.P. Foundry also recently made the following trade(s):

• On Thursday, November 2nd, Group Next L.P. Foundry sold 170,135 shares of Rover Group stock. The stock was sold at an average price of $6.45, for a total transaction of $1,097,370.75.

Rover Group Stock Up 1.2 %

ROVR opened at $6.51 on Friday. The firm has a market capitalization of $1.18 billion, a P/E ratio of -81.38 and a beta of 1.44. The firm’s 50 day moving average is $6.48 and its 200-day moving average is $5.57. Rover Group, Inc. has a 52-week low of $3.38 and a 52-week high of $7.12.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ROVR shares. JPMorgan Chase & Co. raised their target price on shares of Rover Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 2nd. TheStreet upgraded shares of Rover Group from a “d” rating to a “c-” rating in a report on Wednesday, August 2nd. JMP Securities raised their price target on shares of Rover Group from $6.00 to $7.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. DA Davidson raised their price target on shares of Rover Group from $6.00 to $7.50 and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, The Goldman Sachs Group raised their price target on shares of Rover Group from $4.75 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.83.

Institutional Trading of Rover Group

A number of hedge funds have recently made changes to their positions in ROVR. FMR LLC raised its stake in shares of Rover Group by 135.3% during 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. Select Equity Group L.P. increased its stake in shares of Rover Group by 3,225.3% in the fourth quarter. Select Equity Group L.P. now owns 1,480,726 shares of the company’s stock worth $5,434,000 after buying an additional 1,436,197 shares during the last quarter. Half Sky Capital UK Ltd increased its stake in shares of Rover Group by 135.0% in the second quarter. Half Sky Capital UK Ltd now owns 1,838,234 shares of the company’s stock worth $9,021,000 after buying an additional 1,055,893 shares during the last quarter. State Street Corp increased its stake in shares of Rover Group by 304.5% in the second quarter. State Street Corp now owns 1,400,112 shares of the company’s stock worth $5,264,000 after buying an additional 1,053,972 shares during the last quarter. Finally, Hamilton Lane Advisors LLC bought a new stake in shares of Rover Group in the second quarter worth $4,791,000. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Rover Group Company Profile

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 was founded in 2011 and is headquartered in Seattle, Washington.