Insider Selling: Wag! Group Co. (NASDAQ:PET) CTO Sells 51,714 Shares of Stock

Wag! Group Co. (NASDAQ:PET) CTO Maziar Arjomand sold 51,714 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $0.72, for a total value of $37,234.08. Following the transaction, the chief technology officer now directly owns 1,194,098 shares in the company, valued at approximately $859,750.56. The transaction was disclosed in a filing with the SEC, which is available at this link.

Maziar Arjomand also recently made the following trade(s):

• On Monday, August 19th, Maziar Arjomand sold 22,116 shares of Wag! Group stock. The stock was sold at an average price of $0.85, for a total transaction of $18,798.60.

Wag! Group Stock Performance

Shares of NASDAQ:PET traded down $0.01 on Thursday, hitting $0.74. 175,708 shares of the company were exchanged, compared to its average volume of 109,770. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 15.59. The stock’s 50 day moving average price is $1.09 and its 200 day moving average price is $1.63. Wag! Group Co. has a 1-year low of $0.66 and a 1-year high of $2.47. The firm has a market capitalization of $30.07 million, a P/E ratio of -2.08 and a beta of 1.75.

Wag! Group (NASDAQ:PET) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). Wag! Group had a negative return on equity of 1,880.60% and a negative net margin of 14.24%. The business had revenue of $18.65 million for the quarter, compared to the consensus estimate of $18.60 million. Sell-side analysts predict that Wag! Group Co. will post -0.2 EPS for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Wag! Group

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) during the 2nd quarter, according to its most recent disclosure 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 0.11% of Wag! Group as of its most recent SEC filing. Institutional investors and hedge funds own 86.16% of the company’s stock.

About Wag! Group

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.