Stock traders buy large volume of Rover Group call options (NASDAQ:ROVR)


Rover Group, Inc. (NASDAQ:ROVR – Get Rating) was the target of unusual options trades on Wednesday. Investors acquired 17,748 call options on the company. This represents an increase of approximately 6,623% from the typical volume of 264 call options.

Insider activity

Separately, CFO Tracy Knox sold 8,463 shares in a trade dated Wednesday, June 8. The shares were sold at an average price of $4.86, for a total value of $41,130.18. Following the sale, the CFO now directly owns 266,795 shares of the company, valued at approximately $1,296,623.70. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. In other Rover Group news, Chief Financial Officer Tracy Knox sold 8,463 shares of the company in a trade on Wednesday June 8. The stock was sold at an average price of $4.86, for a total trade of $41,130.18. Following the completion of the transaction, the CFO now owns 266,795 shares of the company, valued at $1,296,623.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Additionally, CEO Aaron Easterly sold 29,317 shares of the company in a trade dated Wednesday, June 8. The shares were sold at an average price of $4.86, for a total transaction of $142,480.62. As a result of the transaction, the CEO now directly owns 3,212,156 shares of the company, valued at approximately $15,611,078.16. The disclosure of this sale can be found here. Insiders sold a total of 56,706 shares of the company worth $275,591 in the past 90 days.

Hedge funds weigh on Rover Group

Major investors have recently been buying and selling stocks. Foundry Group LLC purchased a new position in shares of Rover Group during Q4 for a value of approximately $197,620,000. True Wind Capital Management LP bought a new position in shares of Rover Group during the fourth quarter valued at $134,541,000. MV Management XI LLC acquired a new stake in shares of Rover Group in Q4 worth $112,301,000. Foundation Capital LLC purchased a new stake in shares of Rover Group in Q4 for a value of approximately $34,390,000. Finally, Pertento Partners LLP increased its stake in Rover Group by 137.1% during the 1st quarter. Pertento Partners LLP now owns 2,903,698 shares of the company valued at $16,754,000 after purchasing an additional 1,679,256 shares in the last quarter. 78.77% of the shares are currently held by institutional investors and hedge funds.

A Wall Street analyst gives his opinion

A number of analysts have recently released reports on ROVR shares. Goldman Sachs Group began covering Rover Group shares in a research report on Friday, July 15. They set a “neutral” rating and a target price of $4.50 for the company. JPMorgan Chase & Co. took over coverage of Rover Group shares in a Thursday, July 7, research note. They set a “neutral” rating and a price target of $5.00 on the stock. Three research analysts gave the stock a hold rating and six gave the company a buy rating. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.61.

Rover Group Price Performance

Rover Group shares opened at $4.50 on Friday. The company has a market capitalization of $818.73 million, a P/E ratio of -3.69 and a beta of 0.69. The company’s 50-day simple moving average is $4.43 and its 200-day simple moving average is $5.22. Rover Group has a fifty-two week minimum of $3.61 and a fifty-two week maximum of $15.59.

Rover Group (NASDAQ:ROVR – Get Rating) last released its results on Monday, May 9. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.07) by ($0.01). The company posted revenue of $28.00 million in the quarter, compared to analyst estimates of $26.51 million. Rover Group had a negative net margin of 72.28% and a negative return on equity of 21.97%. Rover Group revenue increased by 133.3% compared to the same quarter last year. In the same quarter last year, the company made ($0.35) earnings per share. On average, analysts expect Rover Group to post -0.07 EPS for the current financial year.

Rover Group Company Profile

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Rover Group, Inc operates an online marketplace for pet care worldwide. It connects pet owners with pet providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, such as dog daycare, dog walking, walk-ins, grooming and training. The company is headquartered in Seattle, Washington.

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