Grove Collaborative Holdings, Inc. (NYSE:GROV) Shares Bought by Millennium Management LLC

Millennium Management LLC lifted its position in shares of Grove Collaborative Holdings, Inc. (NYSE:GROV) by 93.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,333 shares of the company’s stock after buying an additional 11,768 shares during the quarter. Millennium Management LLC owned approximately 0.06% of Grove Collaborative worth $34,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. XTX Topco Ltd purchased a new position in Grove Collaborative during the fourth quarter worth about $33,000. Renaissance Technologies LLC lifted its holdings 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 worth $60,000 after acquiring an additional 11,400 shares during the period. Northern Trust Corp lifted its holdings in shares of Grove Collaborative by 54.1% during the 4th quarter. Northern Trust Corp now owns 96,471 shares of the company’s stock worth $134,000 after acquiring an additional 33,850 shares during the period. Geode Capital Management LLC boosted its position in shares of Grove Collaborative by 14.4% in the fourth quarter. Geode Capital Management LLC now owns 208,755 shares of the company’s stock worth $290,000 after acquiring an additional 26,231 shares during the last quarter. Finally, General Atlantic L.P. grew its holdings in Grove Collaborative by 164.4% in the fourth 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 period. Institutional investors and hedge funds own 91.64% of the company’s stock.

Insider Transactions at Grove Collaborative

In other Grove Collaborative news, Director John B. Replogle bought 42,735 shares of Grove Collaborative stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average price of $1.18 per share, for a total transaction 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders bought 132,768 shares of company stock worth $162,276. 29.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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 note on Thursday, May 15th.

Grove Collaborative Trading Up 3.1%

GROV stock opened at $1.16 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.07 and a debt-to-equity ratio of 14.58. The company has a market cap of $46.49 million, a price-to-earnings ratio of -1.67 and a beta of 1.24. The business has a fifty day simple moving average of $1.18 and a 200-day simple moving average of $1.39. Grove Collaborative Holdings, Inc. has a 52 week low of $1.02 and a 52 week high of $1.95.

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

About Grove Collaborative

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.