WM Technology (NASDAQ:MAPS) Trading Up 3.9% – Here’s Why

WM Technology, Inc. (NASDAQ:MAPS)’s stock price was up 3.9% during mid-day trading on Thursday . The company traded as high as $0.7098 and last traded at $0.7051. Approximately 699,444 shares changed hands during trading, an increase of 5% from the average daily volume of 668,229 shares. The stock had previously closed at $0.6787.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded WM Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.61.

WM Technology Stock Performance

The firm has a market cap of $112.14 million, a P/E ratio of 35.27 and a beta of 1.22. The business’s 50-day simple moving average is $0.70 and its 200 day simple moving average is $0.89.

WM Technology (NASDAQ:MAPS) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.06). The firm had revenue of $43.07 million for the quarter, compared to the consensus estimate of $42.00 million. WM Technology had a net margin of 1.12% and a return on equity of 1.51%.

Insiders Place Their Bets

In other news, General Counsel Brian Camire sold 101,209 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $0.68, for a total value of $68,822.12. Following the transaction, the general counsel owned 1,741,653 shares in the company, valued at $1,184,324.04. This represents a 5.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas Francis sold 103,019 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $0.68, for a total transaction of $70,052.92. Following the completion of the transaction, the chief executive officer directly owned 8,467,787 shares in the company, valued at approximately $5,758,095.16. The trade was a 1.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 475,260 shares of company stock valued at $323,177. Insiders own 23.64% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in WM Technology by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,348,488 shares of the company’s stock worth $6,204,000 after acquiring an additional 137,715 shares during the last quarter. State Street Corp boosted its position in shares of WM Technology by 2.3% during the 4th quarter. State Street Corp now owns 1,669,801 shares of the company’s stock valued at $1,378,000 after acquiring an additional 37,165 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of WM Technology by 1,399.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,512,281 shares of the company’s stock valued at $1,754,000 after acquiring an additional 1,411,456 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of WM Technology by 24.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 938,598 shares of the company’s stock valued at $1,089,000 after purchasing an additional 182,433 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in WM Technology by 60.0% in the third quarter. Two Sigma Investments LP now owns 787,714 shares of the company’s stock worth $914,000 after purchasing an additional 295,252 shares during the last quarter. 22.02% of the stock is currently owned by institutional investors.

WM Technology Company Profile

WM Technology, Inc is a software-as-a-service provider that delivers cloud-based solutions to the wealth and asset management industry. The company’s platform is designed to support financial advisors, broker-dealers and registered investment advisors with digital investment advice, portfolio management, performance reporting and compliance monitoring.

WM Technology’s product suite includes tools for streamlined client onboarding, interactive financial planning, automated portfolio rebalancing and tax-aware investment strategies.