Rover Group, Inc. (NASDAQ:ROVR) Stock Position Raised by Half Sky Capital UK Ltd

Half Sky Capital UK Ltd lifted its position in Rover Group, Inc. (NASDAQ:ROVR) by 135.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,838,234 shares of the company’s stock after buying an additional 1,055,893 shares during the quarter. Rover Group makes up 4.7% of Half Sky Capital UK Ltd’s investment portfolio, making the stock its 9th largest holding. Half Sky Capital UK Ltd owned approximately 1.00% of Rover Group worth $9,021,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ROVR. Charles Schwab Investment Management Inc. increased its holdings in Rover Group by 0.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 723,980 shares of the company’s stock worth $3,555,000 after purchasing an additional 2,114 shares during the period. Citigroup Inc. increased its holdings in Rover Group by 85.3% during the 2nd quarter. Citigroup Inc. now owns 63,845 shares of the company’s stock worth $313,000 after purchasing an additional 29,390 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Rover Group during the 2nd quarter worth about $1,753,000. Swiss National Bank increased its holdings in Rover Group by 39.6% during the 2nd quarter. Swiss National Bank now owns 221,600 shares of the company’s stock worth $1,088,000 after purchasing an additional 62,900 shares during the period. Finally, Hamilton Lane Advisors LLC purchased a new stake in Rover Group during the 2nd quarter worth about $4,791,000. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Insider Activity at Rover Group

In related news, major shareholder Group Next L.P. Foundry sold 92,544 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $6.46, for a total value of $597,834.24. Following the completion of the transaction, the insider now directly owns 13,137,411 shares of the company’s stock, valued at approximately $84,867,675.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Aaron Easterly sold 34,200 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $7.10, for a total transaction of $242,820.00. Following the sale, the chief executive officer now owns 3,977,070 shares in the company, valued at $28,237,197. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Group Next L.P. Foundry sold 92,544 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $6.46, for a total value of $597,834.24. Following the sale, the insider now owns 13,137,411 shares in the company, valued at approximately $84,867,675.06. The disclosure for this sale can be found here. Insiders sold 385,630 shares of company stock valued at $2,604,641 in the last ninety days. Corporate insiders own 36.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. DA Davidson upped their price target on Rover Group from $6.00 to $7.50 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Canaccord Genuity Group increased their price objective on Rover Group from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. JMP Securities increased their price objective on Rover Group from $6.00 to $7.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. JPMorgan Chase & Co. increased their price objective on Rover Group from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, November 7th. Finally, The Goldman Sachs Group increased their price objective on Rover Group from $6.00 to $6.75 and gave the company a “neutral” rating in a report on Tuesday, November 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.21.

Rover Group Stock Performance

Rover Group stock traded down $0.12 during mid-day trading on Wednesday, reaching $7.91. 124,363 shares of the company were exchanged, compared to its average volume of 923,010. Rover Group, Inc. has a twelve month low of $3.38 and a twelve month high of $8.40. The firm’s 50-day simple moving average is $6.62 and its two-hundred day simple moving average is $5.74. The firm has a market cap of $1.44 billion, a PE ratio of 160.60 and a beta of 1.44.

Rover Group (NASDAQ:ROVR) last issued its earnings results on Monday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $66.20 million during the quarter, compared to the consensus estimate of $62.23 million. Rover Group had a return on equity of 5.44% and a net margin of 4.99%. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) EPS. As a group, equities research analysts anticipate that Rover Group, Inc. will post 0.11 EPS for the current year.

Rover Group Profile

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 was founded in 2011 and is headquartered in Seattle, Washington.