Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Rover Group Inc. shares valued at $129,873 were sold by TURNER BRENTON R. on Aug 08. At $6.49 per share, TURNER BRENTON R. sold 20,000 shares. The insider’s holdings dropped to 1,164,322 shares worth approximately $7.52 million following the completion of this transaction.
Also, TURNER BRENTON R. sold 30,000 shares, netting a total of over 194,721 in proceeds. Following the sale of shares at $6.49 each, the insider now holds 1,175,046 shares.
Before that, Wickers Charles had sold 24,448 shares from its account. In a trade valued at $158,676, the Chief Financial Officer traded Rover Group Inc. shares for $6.49 each. Upon closing the transaction, the insider’s holdings decreased to 24,448 shares, worth approximately $0.55 million.
As published in a research note from Gordon Haskett on August 09, 2022, Rover Group Inc. [ROVR] has been rated down from a Buy to a Hold and the price target has been revised to $3.50 from $5.50. This represents a -84.57% premium over Thursday’s closing price.
Analyzing ROVR Stock Performance
On Thursday, Rover Group Inc. [NASDAQ: ROVR] plunged -1.22% to $6.46. The stock’s lowest price that day was $6.45, but it reached a high of $6.60 in the same session. During the last five days, there has been a surge of approximately 3.86%. Over the course of the year, Rover Group Inc. shares have jumped approximately 76.02%. Shares of the company reached a 52-week high of $7.00 on 08/02/23 and a 52-week low of $3.39 on 01/19/23. A 50-day SMA is recorded $5.50, while a 200-day SMA reached $4.59. Nevertheless, trading volume fell to 0.88 million shares from 1.31 million shares the previous day.
Support And Resistance Levels for Rover Group Inc. (ROVR)
According to the 24-hour chart, there is a support level at 6.41, which, if violated, would cause prices to drop to 6.35. In the upper region, resistance lies at 6.56. The next price resistance is at 6.65. RSI (Relative Strength Index) is 65.10 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.11, which suggests the price will decrease in the coming days. Percent R is at 24.56%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Rover Group Inc. subject to short interest?
Stocks of Rover Group Inc. saw a sharp steep in short interest on Jul 30, 2023 dropping by -0.64 million shares to 2.36 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 3.0 million shares. A decline of -27.12% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.8 of the overall float, the days-to-cover ratio (short ratio) decline to 2.8.
Which companies own the most shares of Rover Group Inc. (ROVR)?
According to Parsifal Capital Management LP filings, the company currently owns 8,190,072 shares, which is about 4.45% of the total ROVR shares outstanding. The investor’s shares have plunged by -80,510 from its previous 13-F filing of 8270582.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $32,802,442. The Vanguard Group, Inc. acquire a 2.98% interest valued at $31.7 million while Broad Bay Capital Management LP sold a -1,225,000 stake. A total of 106,361 shares of Rover Group Inc. were sold by Fidelity Management & Research Co during the quarter, and -119,940 were sold by Ararat Capital Management LP. In its current portfolio, Pertento Partners LLP holds 3,763,938 shares valued at $20.63 million.
In terms of Rover Group Inc. share price expectations, FactSet research, analysts set an average price target of $6.86 in the next 12 months, up nearly 7.03% from the previous closing price of $6.54. Analysts anticipate Rover Group Inc. stock to reach $8.00 by 2023, with the lowest price target being $6.00. In spite of this, 8 analysts ranked Rover Group Inc. stock as an Overweight at the end of 2023.