SAN FRANCISCO – Wag! Group Co. (NYSE:PET), the company known for its pet services, has reported a recent sale of shares by Chief Technology Officer Maziar Arjomand. According to the latest filings, Arjomand sold a total of 13,711 shares of common stock in two separate transactions.
The sales occurred on March 27th and 28th, with the prices per share ranging from $1.90 to $1.94 for the first batch of 8,116 shares, and from $1.95 to $2.02 for the subsequent 5,595 shares. The transactions resulted in a total sale value of approximately $26,635.
Investors following Wag! Group Co. will note that these sales were conducted in accordance with a Rule 10b5-1 trading plan, which Arjomand had adopted on December 8, 2023. This plan allows company insiders to sell shares over a determined period of time to avoid any accusations of trading on nonpublic information.
Following the sales, Maziar Arjomand still holds a substantial number of shares in the company, with the filings indicating a remaining total of 948,326 shares of Wag! Group Co. common stock.
The company has not made any official statements regarding the transactions, but the filings provide full transparency for investors keeping an eye on insider trading activities. The sales come at a time when the market is closely watching the movements of company insiders for indications of their confidence in the financial health and future prospects of their companies.
Wag! Group Co., with its headquarters in San Francisco, California, continues to offer a suite of services catered to pet owners, including dog walking and pet sitting.
InvestingPro Insights
As Wag! Group Co. (NYSE:PET) navigates through the market, the recent insider trading activity has caught the attention of shareholders and potential investors. To provide further context, InvestingPro data and tips offer a deeper dive into the company's financial health and stock performance.
InvestingPro data indicates that Wag! Group Co. has a market capitalization of $74.96 million and has experienced substantial revenue growth of 52.95% over the last twelve months as of Q4 2023. This growth is supported by an impressive gross profit margin of 76.47%, reflecting the company's ability to maintain profitability at the cost of goods sold level. However, with a Price / Book ratio of 47.21, the stock is trading at a premium relative to the company's book value.
Despite the robust revenue growth, the company has not been profitable over the last twelve months, with an operating income margin of -8.63% and a negative return on assets of -26.9%. This aligns with one of the InvestingPro Tips, which states that analysts do not anticipate the company will be profitable this year. Additionally, the stock price movements have been quite volatile, which is important for investors to consider when evaluating the risk associated with an investment in Wag! Group Co.
For those looking to delve deeper into Wag! Group Co.'s financials and stock analysis, InvestingPro offers additional insights. There are currently 6 more InvestingPro Tips available at https://www.investing.com/pro/PET, which could help investors make more informed decisions. Moreover, by using the coupon code PRONEWS24, users can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to a wealth of financial data and expert analysis.
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