Wise Group (NASDAQ:WSE) CTO Sells $497,307.00 in Stock

Wise Group plc (NASDAQ:WSE) CTO Harsh Sinha sold 42,324 shares of the company’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $11.75, for a total transaction of $497,307.00. Following the transaction, the chief technology officer owned 979,030 shares in the company, valued at approximately $11,503,602.50. This trade represents a 4.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wise Group Price Performance

Shares of NASDAQ:WSE opened at $11.05 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.07. Wise Group plc has a 12 month low of $10.36 and a 12 month high of $17.47. The stock’s 50-day moving average is $12.12.

Wise Group (NASDAQ:WSE) last announced its earnings results on Thursday, June 25th. The company reported $0.12 earnings per share for the quarter. The company had revenue of $576.48 million during the quarter. On average, sell-side analysts expect that Wise Group plc will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Wise Group

Large investors have recently modified their holdings of the business. Ninety One UK Ltd lifted its holdings in shares of Wise Group by 37.4% during the 3rd quarter. Ninety One UK Ltd now owns 7,195,705 shares of the company’s stock valued at $82,629,000 after purchasing an additional 1,959,751 shares in the last quarter. Amundi acquired a new position in shares of Wise Group in the 2nd quarter valued at approximately $58,328,000. Allianz Asset Management GmbH acquired a new position in shares of Wise Group in the 2nd quarter valued at approximately $14,441,000. The Manufacturers Life Insurance Company bought a new stake in Wise Group during the 2nd quarter worth approximately $3,154,000. Finally, Citadel Advisors LLC bought a new stake in Wise Group during the 2nd quarter worth approximately $2,695,000.

Analysts Set New Price Targets

Several equities analysts have weighed in on WSE shares. UBS Group increased their target price on Wise Group from $16.00 to $17.25 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Monness Crespi & Hardt upgraded Wise Group to a “strong-buy” rating in a research report on Friday, October 16th. JPMorgan Chase & Co. upped their price target on Wise Group from $17.30 to $17.70 and gave the company an “overweight” rating in a research note on Friday, October 16th. Morgan Stanley initiated coverage on Wise Group in a research note on Monday, June 29th. They issued an “equal weight” rating and a $16.10 price target for the company. Finally, Canaccord Genuity Group began coverage on shares of Wise Group in a research report on Wednesday, September 2nd. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $16.94.

Wise Group Company Profile

Wise Group PLC is a technology company. Its product offering includes Wise Account, Wise Business and Wise Platform. Wise Account is its solution for people with cross-border financial needs. Wise Business offers product along with business-specific functionalities designed to enable business customers. Wise Platform provide financial services for banks, financial institutions and enterprises. Wise Group PLC is based in LONDON, United Kingdom.