Rover Group, Inc. (NASDAQ:ROVR – Get Rating)’s share price fell 4.1% during mid-day trading on Thursday after JMP Securities lowered their price target on the stock from $8.00 to $6.00. JMP Securities currently has a market outperform rating on the stock. Rover Group traded as low as $3.69 and last traded at $3.74. 5,760 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 282,597 shares. The stock had previously closed at $3.90.
Several other equities research analysts have also recently commented on the stock. 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 report on Wednesday, November 9th. Morgan Stanley boosted their price target on Rover Group to $6.00 in a report on Tuesday, November 15th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Rover Group currently has an average rating of “Moderate Buy” and an average price target of $6.59.
Insider Buying and Selling
In related news, CEO Aaron Easterly sold 30,117 shares of the stock in a transaction on Friday, December 9th. The shares were sold at an average price of $4.50, for a total transaction of $135,526.50. Following the completion of the transaction, the chief executive officer now owns 3,297,247 shares in the company, valued at $14,837,611.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rover Group news, CFO Charles Wickers sold 10,893 shares of the stock in a transaction on Friday, December 9th. The shares were sold at an average price of $4.50, for a total value of $49,018.50. Following the completion of the sale, the chief financial officer now owns 40,108 shares in the company, valued at $180,486. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Aaron Easterly sold 30,117 shares of the stock in a transaction on Friday, December 9th. The shares were sold at an average price of $4.50, for a total transaction of $135,526.50. Following the completion of the sale, the chief executive officer now owns 3,297,247 shares of the company’s stock, valued at approximately $14,837,611.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,431 shares of company stock worth $271,940. 36.90% of the stock is owned by insiders.
Institutional Trading of Rover Group
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in 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 acquiring an additional 371,250 shares during the last quarter. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 388,655 shares during the last quarter. FMR LLC lifted its stake in 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 acquiring an additional 1,725,978 shares during the last quarter. SVB Wealth LLC lifted its stake in Rover Group by 102.4% in the third quarter. SVB Wealth LLC now owns 1,684,675 shares of the company’s stock valued at $5,627,000 after acquiring an additional 852,242 shares during the last quarter. Finally, State Street Corp raised its position in shares of Rover Group by 10.5% in the third quarter. State Street Corp now owns 1,547,759 shares of the company’s stock valued at $5,170,000 after purchasing an additional 147,647 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.
Rover Group Price Performance
The company has a market capitalization of $687.24 million, a P/E ratio of 97.50 and a beta of 1.51. The company’s 50-day moving average price is $4.34 and its two-hundred day moving average price is $4.11.
About Rover Group
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.