Traders Purchase Large Volume of Rover Group Call Options (NASDAQ:ROVR)

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Rover Group (NASDAQ:ROVR) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 17,748 call options on the stock. This represents an increase of 6,623% compared to the average volume of 264 call options.

Separately, Zacks Investment Research downgraded shares of Rover Group from a “hold” rating to a “sell” rating in a research report on Thursday, November 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $14.20.

Shares of ROVR stock opened at $9.77 on Friday. The business’s 50-day moving average is $11.31. Rover Group has a 52 week low of $8.60 and a 52 week high of $15.59.

Rover Group (NASDAQ:ROVR) last announced its earnings results on Monday, November 8th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.64). The company had revenue of $35.10 million for the quarter, compared to analyst estimates of $34.77 million. The firm’s quarterly revenue was up 163.9% on a year-over-year basis. On average, analysts forecast that Rover Group will post -1.08 earnings per share for the current fiscal year.

In other news, Director Venky Ganesan sold 440,000 shares of Rover Group stock in a transaction dated Tuesday, November 23rd. The shares were sold at an average price of $10.00, for a total value of $4,400,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Aaron Easterly sold 824,674 shares of Rover Group stock in a transaction dated Tuesday, November 23rd. The shares were sold at an average price of $10.00, for a total transaction of $8,246,740.00. The disclosure for this sale can be found here. Insiders sold a total of 2,615,955 shares of company stock worth $26,185,298 over the last quarter.

A number of institutional investors have recently modified their holdings of ROVR. Parallel Advisors LLC acquired a new stake in Rover Group in the 3rd quarter worth about $39,000. Advisor Group Holdings Inc. acquired a new stake in Rover Group in the 3rd quarter worth about $40,000. Penserra Capital Management LLC acquired a new stake in Rover Group in the 3rd quarter worth about $74,000. Royal Bank of Canada acquired a new stake in Rover Group in the 3rd quarter worth about $84,000. Finally, Samson Rock Capital LLP acquired a new stake in Rover Group in the 3rd quarter worth about $165,000. Institutional investors and hedge funds own 83.57% of the company’s stock.

About Rover Group

Rover Inc provides online marketplace for pet care. It connects pet parents with pet providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, including doggy daycare, dog walking, drop-in visits and grooming. Rover Inc, formerly known as Nebula Caravel Acquisition Corp., is based in SAN FRANCISCO.

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