Insider Selling: Wag! Group Co. (NASDAQ:PET) CFO Sells 36,204 Shares of Stock

Wag! Group Co. (NASDAQ:PET) CFO Alec Davidian sold 36,204 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $0.72, for a total transaction of $26,066.88. Following the completion of the sale, the chief financial officer now owns 839,400 shares of the company’s stock, valued at $604,368. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wag! Group Stock Performance

Shares of NASDAQ PET traded down $0.01 during midday trading on Thursday, reaching $0.74. The company had a trading volume of 175,708 shares, compared to its average volume of 109,770. The business’s 50-day simple moving average is $1.09 and its 200 day simple moving average is $1.63. The stock has a market cap of $30.07 million, a P/E ratio of -2.06 and a beta of 1.75. Wag! Group Co. has a 1 year low of $0.66 and a 1 year high of $2.47. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 15.59.

Wag! Group (NASDAQ:PET) last issued its earnings results on Wednesday, August 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). Wag! Group had a negative net margin of 14.24% and a negative return on equity of 1,880.60%. The firm had revenue of $18.65 million during the quarter, compared to analysts’ expectations of $18.60 million. On average, analysts forecast that Wag! Group Co. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Wag! Group stock. Cowen AND Company LLC bought a new position in shares of Wag! Group Co. (NASDAQ:PET) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 45,000 shares of the company’s stock, valued at approximately $72,000. Cowen AND Company LLC owned about 0.11% of Wag! Group at the end of the most recent reporting period. Institutional investors and hedge funds own 86.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PET shares. DA Davidson lowered their target price on shares of Wag! Group from $6.00 to $3.50 and set a “buy” rating for the company in a research note on Thursday, May 16th. Lake Street Capital initiated coverage on shares of Wag! Group in a research note on Thursday, May 30th. They issued a “buy” rating and a $4.00 target price for the company. Roth Mkm decreased their price target on shares of Wag! Group from $4.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, July 16th. Finally, Oppenheimer decreased their price target on shares of Wag! Group from $6.00 to $3.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $4.40.

Wag! Group Company Profile

Wag! Group Co develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent pet caregivers to connect with pet parents. Its platform allows pet parents, who require specific pet care services, such as dog walking, pet sitting and boarding, advice from licensed pet experts, home visits, training, and pet insurance comparison tools.