Wag! Group Co. (NYSE:PET), a leading provider of personal services, has seen a recent sale of shares by Chief Technology Officer Maziar Arjomand. According to the latest SEC filings, Arjomand sold a total of $26,362 worth of common stock over a span of three days.
The transactions occurred between April 3 and April 5, with prices per share ranging from $2.01 to $2.05. On April 3, shares were sold at an average price of $2.03, with the price reported being a weighted average and the actual transactions occurring at prices between $1.98 and $2.06. Similarly, on April 4, shares were sold at an average price of $2.01, with individual sales ranging from $1.98 to $2.03. The final batch of shares was sold on April 5 at an average price of $2.05, with a range of $1.98 to $2.12.
The sales were conducted under a Rule 10b5-1 trading plan, which was adopted by Arjomand on December 8, 2023. This plan allows company insiders to establish a pre-arranged plan to buy or sell company stock when they are not in possession of material non-public information, providing a defense against claims of insider trading.
Following these transactions, Arjomand still holds a significant number of shares in the company, with the latest SEC filing showing 917,521 shares remaining in his possession. These sales have been publicly disclosed as per regulatory requirements, ensuring transparency in the dealings of company executives.
Investors and stakeholders in Wag! Group Co. can request detailed information about the sales at each price point from the reporting person, as indicated in the footnotes of the SEC filing.
InvestingPro Insights
Wag! Group Co. (NYSE:PET) has been navigating a dynamic market landscape, and recent insider trading activity has drawn attention to the company's financial health and stock performance. Here are some key metrics and insights from InvestingPro that provide a broader context to the company's current situation:
The market capitalization of Wag! Group Co. stands at approximately $81.09 million, reflecting the company's valuation in the eyes of investors. Despite the challenges, the firm has reported a robust revenue growth of 52.95% over the last twelve months as of Q1 2023, indicating a strong increase in sales. This aligns with one of the InvestingPro Tips highlighting analysts' anticipation of sales growth in the current year.
Another notable point is the company's impressive gross profit margin, which has reached 76.47% in the same period. This is a key financial metric that underscores Wag! Group Co.'s ability to manage its cost of goods sold and maintain profitability at the gross level. This is particularly relevant as it complements the InvestingPro Tips pointing out the company's impressive gross profit margins.
However, the company's stock price movements have been quite volatile, with an 18.24% return over the last three months, yet a -9.05% return over the past year. This volatility is a critical aspect for investors to consider, especially in light of the recent insider share sale by Chief Technology Officer Maziar Arjomand.
For investors seeking a deeper dive into Wag! Group Co.'s financials and stock performance, there are additional InvestingPro Tips available on the platform. For example, while the company operates with a moderate level of debt and has liquid assets that exceed short-term obligations, analysts do not anticipate the company will be profitable this year, and it has not been profitable over the last twelve months. Moreover, the company is trading at a high Price / Book multiple of 51.72 as of Q1 2023.
For those interested in exploring these insights further, you can find more InvestingPro Tips on https://www.investing.com/pro/PET. Plus, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Currently, there are 9 additional InvestingPro Tips listed for Wag! Group Co. that can help investors make more informed decisions.
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