Rover Group Target of Unusually Large Options Trading (NASDAQ:ROVR)

view original post

Rover Group, Inc. (NASDAQ:ROVRGet Rating) was the target of unusually large options trading activity on Wednesday. Traders purchased 17,748 call options on the stock. This represents an increase of 6,623% compared to the typical daily volume of 264 call options.

In other Rover Group news, CFO Tracy Knox sold 8,463 shares of the stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $4.86, for a total value of $41,130.18. Following the sale, the chief financial officer now directly owns 266,795 shares in the company, valued at approximately $1,296,623.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Aaron Easterly sold 29,317 shares of the firm’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $4.86, for a total transaction of $142,480.62. Following the sale, the chief executive officer now owns 3,212,156 shares in the company, valued at approximately $15,611,078.16. The disclosure for this sale can be found here. Insiders sold a total of 56,706 shares of company stock worth $275,591 over the last quarter.

Several hedge funds have recently added to or reduced their stakes in ROVR. Foundry Group LLC bought a new stake in Rover Group in the 4th quarter worth $197,620,000. True Wind Capital Management L.P. bought a new stake in Rover Group in the 4th quarter worth $134,541,000. MV Management XI L.L.C. bought a new stake in Rover Group in the 4th quarter worth $112,301,000. Foundation Capital LLC bought a new stake in Rover Group in the 4th quarter worth $34,390,000. Finally, Broad Bay Capital Management LP bought a new stake in Rover Group in the 3rd quarter worth $47,038,000. 78.77% of the stock is currently owned by institutional investors.

Several research firms have recently weighed in on ROVR. Canaccord Genuity Group lowered their price objective on shares of Rover Group from $14.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, March 8th. DA Davidson lowered their price objective on shares of Rover Group from $17.00 to $8.00 in a research report on Wednesday, March 9th. Canaccord Genuity Group lowered their price objective on shares of Rover Group from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, February 28th. Morgan Stanley lowered their price objective on shares of Rover Group from $10.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 8th. Finally, JMP Securities lowered their price objective on shares of Rover Group from $15.00 to $11.00 and set a “market outperform” rating on the stock in a research report on Tuesday, March 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $11.00.

ROVR stock opened at $4.22 on Thursday. Rover Group has a 52 week low of $3.78 and a 52 week high of $15.59. The firm’s fifty day moving average is $5.37 and its 200 day moving average is $6.52. The firm has a market cap of $767.78 million, a P/E ratio of -3.46 and a beta of 0.04.

Rover Group (NASDAQ:ROVRGet Rating) last released its earnings results on Monday, May 9th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Rover Group had a negative net margin of 72.28% and a negative return on equity of 21.97%. The business had revenue of $28.00 million for the quarter, compared to the consensus estimate of $26.51 million. During the same period in the prior year, the business posted ($0.35) EPS. Rover Group’s revenue for the quarter was up 133.3% on a year-over-year basis. As a group, equities analysts predict that Rover Group will post -0.07 earnings per share for the current fiscal year.

Rover Group Company Profile (Get Rating)

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.

Read More

Receive News & Ratings for Rover Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Rover Group and related companies with MarketBeat.com’s FREE daily email newsletter.