Jacob Asset Management of New York LLC Sells 260,414 Shares of Rover Group, Inc. (NASDAQ:ROVR)

Jacob Asset Management of New York LLC reduced its stake in Rover Group, Inc. (NASDAQ:ROVR) by 42.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 358,032 shares of the company’s stock after selling 260,414 shares during the period. Rover Group accounts for approximately 2.0% of Jacob Asset Management of New York LLC’s holdings, making the stock its 21st largest holding. Jacob Asset Management of New York LLC owned about 0.19% of Rover Group worth $1,758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Rover Group by 0.3% in 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 last quarter. Bank of New York Mellon Corp lifted its holdings in Rover Group by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 311,049 shares of the company’s stock worth $1,527,000 after acquiring an additional 4,257 shares in the last quarter. Rhumbline Advisers lifted its holdings in Rover Group by 4.8% during the first quarter. Rhumbline Advisers now owns 122,031 shares of the company’s stock worth $553,000 after acquiring an additional 5,595 shares in the last quarter. Credit Suisse AG lifted its holdings in Rover Group by 11.4% during the second quarter. Credit Suisse AG now owns 63,867 shares of the company’s stock worth $241,000 after acquiring an additional 6,522 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Rover Group by 18.1% during the fourth quarter. Deutsche Bank AG now owns 47,229 shares of the company’s stock worth $173,000 after acquiring an additional 7,238 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Rover Group news, CFO Charles Wickers sold 6,668 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $6.51, for a total transaction of $43,408.68. Following the transaction, the chief financial officer now owns 114,589 shares of the company’s stock, valued at $745,974.39. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Rover Group news, CFO Charles Wickers sold 6,668 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $6.51, for a total transaction of $43,408.68. Following the transaction, the chief financial officer now owns 114,589 shares of the company’s stock, valued at $745,974.39. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Group Next L.P. Foundry sold 92,544 shares of the business’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 transaction, the insider now directly 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 have sold a total of 499,730 shares of company stock valued at $3,513,274 over the last 90 days. 36.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ROVR shares. Canaccord Genuity Group lifted their target price on Rover Group from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. JMP Securities lifted their price target on Rover Group from $6.00 to $7.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. TheStreet raised Rover Group from a “d” rating to a “c-” rating in a research note on Wednesday, August 2nd. DA Davidson lifted their price target on Rover Group from $6.00 to $7.50 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Rover Group from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, November 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Rover Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.21.

Rover Group Stock Up 0.9 %

Shares of NASDAQ:ROVR traded up $0.07 during midday trading on Friday, reaching $8.20. The company had a trading volume of 2,440,877 shares, compared to its average volume of 1,878,818. The business’s 50 day moving average price is $6.71 and its 200 day moving average price is $5.81. The stock has a market cap of $1.47 billion, a PE ratio of 164.00 and a beta of 1.44. Rover Group, Inc. has a 1-year low of $3.38 and a 1-year high of $8.40.

Rover Group (NASDAQ:ROVR) last released its earnings results on Monday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $66.20 million for 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%. Rover Group’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) earnings per share. On average, research analysts expect that Rover Group, Inc. will post 0.11 earnings per share for the current fiscal year.

Rover Group Company 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.