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Investors Purchase High Volume of Call Options on Rover Group (NASDAQ:ROVR)

Defense World · Sep 22, 2022 02:52

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Rover Group in a research report on Friday, July 15th. They issued a "neutral" rating and a $4.50 price objective for the company. Gordon Haskett downgraded shares of Rover Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $5.50 to $3.50 in a research report on Tuesday, August 9th. Morgan Stanley decreased their price objective on shares of Rover Group from $6.00 to $4.50 and set an "equal weight" rating for the company in a research report on Monday, August 8th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Rover Group in a research report on Thursday, July 7th. They issued a "neutral" rating and a $5.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $7.31.

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Insider Activity at Rover Group

In related news, COO Brenton R. Turner sold 19,490 shares of the business's stock in a transaction on Monday, September 12th. The shares were sold at an average price of $4.11, for a total transaction of $80,103.90. Following the completion of the transaction, the chief operating officer now directly owns 1,052,937 shares in the company, valued at $4,327,571.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Aaron Easterly sold 30,184 shares of the business's stock in a transaction on Monday, September 12th. The shares were sold at an average price of $4.11, for a total transaction of $124,056.24. Following the completion of the transaction, the chief executive officer now directly owns 3,254,668 shares in the company, valued at $13,376,685.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brenton R. Turner sold 19,490 shares of the business's stock in a transaction on Monday, September 12th. The shares were sold at an average price of $4.11, for a total transaction of $80,103.90. Following the transaction, the chief operating officer now owns 1,052,937 shares of the company's stock, valued at $4,327,571.07. The disclosure for this sale can be found here. Insiders sold 53,475 shares of company stock worth $219,782 over the last three months. Company insiders own 36.90% of the company's stock.

Institutional Trading of Rover Group

Several large investors have recently bought and sold shares of ROVR. Northern Trust Corp grew its stake in Rover Group by 20.1% during the 4th quarter. Northern Trust Corp now owns 160,582 shares of the company's stock valued at $1,566,000 after acquiring an additional 26,911 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Rover Group during the 4th quarter valued at about $145,000. Foundry Group LLC purchased a new stake in Rover Group during the 4th quarter valued at about $197,620,000. Clearline Capital LP purchased a new stake in Rover Group during the 4th quarter valued at about $568,000. Finally, Mirabella Financial Services LLP purchased a new stake in Rover Group during the 4th quarter valued at about $128,000. Hedge funds and other institutional investors own 84.70% of the company's stock.

Rover Group Stock Down 0.3 %

ROVR stock opened at $3.40 on Thursday. The stock has a market capitalization of $621.46 million, a P/E ratio of -5.57 and a beta of 1.03. The firm has a 50-day simple moving average of $4.06 and a 200-day simple moving average of $4.74. Rover Group has a 52 week low of $3.32 and a 52 week high of $15.36.

Rover Group (NASDAQ:ROVR – Get Rating) last released its earnings results on Thursday, August 4th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. The business had revenue of $43.37 million during the quarter, compared to analysts' expectations of $42.09 million. Rover Group had a negative net margin of 43.25% and a negative return on equity of 8.89%. The company's quarterly revenue was up 77.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.59) earnings per share. On average, analysts expect that Rover Group will post -0.1 earnings per share for the current year.

About Rover Group

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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.