Northern Trust Corp Raises Stock Holdings in Grove Collaborative Holdings, Inc. (NYSE:GROV)

Northern Trust Corp boosted its holdings in Grove Collaborative Holdings, Inc. (NYSE:GROV) by 54.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 96,471 shares of the company’s stock after buying an additional 33,850 shares during the quarter. Northern Trust Corp owned 0.25% of Grove Collaborative worth $134,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. XTX Topco Ltd purchased a new stake in shares of Grove Collaborative during the 4th quarter valued at about $33,000. Renaissance Technologies LLC increased its position in shares of Grove Collaborative by 35.5% during the 4th quarter. Renaissance Technologies LLC now owns 43,500 shares of the company’s stock valued at $60,000 after purchasing an additional 11,400 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Grove Collaborative by 14.4% during the 4th quarter. Geode Capital Management LLC now owns 208,755 shares of the company’s stock valued at $290,000 after purchasing an additional 26,231 shares during the last quarter. Finally, General Atlantic L.P. increased its position in shares of Grove Collaborative by 164.4% during the 4th quarter. General Atlantic L.P. now owns 2,474,859 shares of the company’s stock valued at $3,440,000 after purchasing an additional 1,538,839 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Buying and Selling

In other news, Director John B. Replogle bought 42,735 shares of Grove Collaborative stock in a transaction that occurred on Wednesday, May 21st. The stock was bought at an average cost of $1.18 per share, with a total value of $50,427.30. Following the acquisition, the director now owns 497,859 shares of the company’s stock, valued at $587,473.62. The trade was a 9.39% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders bought 118,268 shares of company stock valued at $143,700. 29.40% of the stock is owned by corporate insiders.

Grove Collaborative Price Performance

NYSE GROV opened at $1.36 on Wednesday. The company has a 50-day moving average price of $1.19 and a 200-day moving average price of $1.40. The firm has a market capitalization of $54.75 million, a P/E ratio of -1.97 and a beta of 1.10. Grove Collaborative Holdings, Inc. has a 52 week low of $1.02 and a 52 week high of $1.95. The company has a quick ratio of 1.45, a current ratio of 2.07 and a debt-to-equity ratio of 14.58.

Grove Collaborative (NYSE:GROV) last released its earnings results on Wednesday, May 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $43.55 million during the quarter, compared to analysts’ expectations of $47.01 million. Grove Collaborative had a negative return on equity of 417.96% and a negative net margin of 11.35%.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and set a $1.20 price target (down previously from $2.00) on shares of Grove Collaborative in a research report on Thursday, May 15th.

Grove Collaborative Company Profile

Grove Collaborative Holdings, Inc operates as a plastic neutral consumer products retailer in the United States. It offers household, personal care, beauty, and other consumer products through retail channels, third parties, direct-to-consumer platform, and mobile applications, as well as online store.