Wag! Group Co. (NASDAQ:PET) CTO Sells $18,798.60 in Stock

Wag! Group Co. (NASDAQ:PET) CTO Maziar Arjomand sold 22,116 shares of Wag! Group stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $0.85, for a total value of $18,798.60. Following the transaction, the chief technology officer now directly owns 1,245,812 shares in the company, valued at approximately $1,058,940.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Wag! Group Stock Performance

Wag! Group stock traded down $0.07 during mid-day trading on Tuesday, reaching $0.77. The company had a trading volume of 162,934 shares, compared to its average volume of 104,709. The company has a 50 day moving average of $1.34 and a 200-day moving average of $1.77. Wag! Group Co. has a 52 week low of $0.75 and a 52 week high of $2.47. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 15.59. The firm has a market cap of $31.32 million, a price-to-earnings ratio of -2.33 and a beta of 1.79.

Institutional Investors Weigh In On Wag! Group

Hedge funds have recently made changes to their positions in the stock. Cerity Partners LLC bought a new position in Wag! Group in the fourth quarter worth $40,000. Cowen AND Company LLC bought a new stake in Wag! Group in the 2nd quarter valued at $72,000. Finally, SVB Wealth LLC raised its stake in shares of Wag! Group by 100.0% in the 4th quarter. SVB Wealth LLC now owns 140,000 shares of the company’s stock valued at $245,000 after buying an additional 70,000 shares in the last quarter. Institutional investors own 86.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $8.00 price target on shares of Wag! Group in a research note on Friday, May 10th. Oppenheimer dropped their target price on Wag! Group from $6.00 to $3.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Roth Mkm lowered their price target on Wag! Group from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Lake Street Capital initiated coverage on shares of Wag! Group in a research report on Thursday, May 30th. They set a “buy” rating and a $4.00 price objective on the stock. Finally, DA Davidson decreased their target price on shares of Wag! Group from $6.00 to $3.50 and set a “buy” rating for the company in a research report on Thursday, May 16th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $4.40.

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.