Wag! Group Co. (NASDAQ:PET) CTO Maziar Arjomand Sells 38,144 Shares

Wag! Group Co. (NASDAQ:PET) CTO Maziar Arjomand sold 38,144 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $0.30, for a total value of $11,443.20. Following the completion of the sale, the chief technology officer now owns 1,121,208 shares of the company’s stock, valued at approximately $336,362.40. This represents a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Wag! Group Trading Down 6.7 %

NASDAQ PET traded down $0.02 during mid-day trading on Wednesday, reaching $0.31. 1,050,936 shares of the company’s stock traded hands, compared to its average volume of 808,166. Wag! Group Co. has a 1-year low of $0.14 and a 1-year high of $2.47. The company has a fifty day simple moving average of $0.27 and a 200-day simple moving average of $0.54. The company has a market cap of $15.43 million, a price-to-earnings ratio of -0.79 and a beta of 1.07.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PET shares. Craig Hallum downgraded Wag! Group from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Lake Street Capital lowered shares of Wag! Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.40.

Institutional Trading of Wag! Group

A hedge fund recently raised its stake in Wag! Group stock. Whetstone Capital Advisors LLC increased its position in Wag! Group Co. (NASDAQ:PET) by 156.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,222,413 shares of the company’s stock after purchasing an additional 1,354,558 shares during the period. Wag! Group accounts for about 0.9% of Whetstone Capital Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. Whetstone Capital Advisors LLC owned about 4.55% of Wag! Group worth $1,911,000 at the end of the most recent reporting period. 86.16% of the stock is currently owned by hedge funds and other institutional investors.

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.