Insider Selling: Wag! Group Co. (NASDAQ:PET) Insider Sells 6,880 Shares of Stock

Wag! Group Co. (NASDAQ:PET) insider Adam Storm sold 6,880 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $1.63, for a total value of $11,214.40. Following the completion of the sale, the insider now owns 1,327,699 shares of the company’s stock, valued at $2,164,149.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Adam Storm also recently made the following trade(s):

• On Monday, May 20th, Adam Storm sold 29,443 shares of Wag! Group stock. The shares were sold at an average price of $1.70, for a total value of $50,053.10.
• On Friday, May 17th, Adam Storm sold 12,739 shares of Wag! Group stock. The shares were sold at an average price of $1.95, for a total value of $24,841.05.

Wag! Group Price Performance

PET stock opened at $1.60 on Monday. The company has a market capitalization of $64.99 million, a P/E ratio of -4.44 and a beta of 2.01. The company has a debt-to-equity ratio of 15.59, a quick ratio of 1.33 and a current ratio of 1.33. Wag! Group Co. has a 52-week low of $1.57 and a 52-week high of $2.65. The business has a 50-day simple moving average of $2.08 and a two-hundred day simple moving average of $1.94.

Wag! Group (NASDAQ:PET) last posted its earnings results on Thursday, May 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.03. Wag! Group had a negative net margin of 15.92% and a negative return on equity of 553.34%. The firm had revenue of $23.22 million during the quarter, compared to analyst estimates of $22.60 million. Research analysts expect that Wag! Group Co. will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Wag! Group

Several hedge funds have recently modified their holdings of the company. Cerity Partners LLC bought a new position in shares of Wag! Group in the fourth quarter valued at approximately $40,000. ATW Spac Management LLC purchased a new stake in Wag! Group during the third quarter worth about $117,000. SVB Wealth LLC raised its position in Wag! Group by 100.0% in the fourth quarter. SVB Wealth LLC now owns 140,000 shares of the company’s stock worth $245,000 after acquiring an additional 70,000 shares during the period. Finally, StepStone Group LP purchased a new position in Wag! Group in the third quarter valued at about $225,000. Institutional investors own 86.16% of the company’s stock.

Analyst Ratings Changes

PET has been the subject of several research reports. DA Davidson reduced their target price on Wag! Group from $6.00 to $3.50 and set a “buy” rating for the company in a research note on Thursday, May 16th. Chardan Capital restated a “buy” rating and issued a $8.00 target price on shares of Wag! Group in a research note on Friday, May 10th.

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.