Garrett Smallwood, the Chief Executive Officer of Wag! Group Co. (NYSE:PET), has recently sold a total of 10,100 shares of the company's common stock, according to the latest filings. The transactions, which took place on June 3rd and 4th, resulted in proceeds exceeding $15,000 for Smallwood.
The shares were sold at a weighted average price of $1.51 each. On June 3rd, Smallwood sold 6,600 shares, and the following day, an additional 3,500 shares were divested. The sales were conducted in multiple transactions at prices that ranged from $1.49 to $1.58 on the first day, and between $1.47 to $1.54 on the second day.
Following these transactions, Smallwood still retains a substantial stake in the company, with 1,147,986 shares of Wag! Group Co. remaining in his possession. The recent sales represent a minor fraction of his total holdings, indicating that the CEO still maintains a significant investment in the company's future.
Investors and the market often monitor the trading activity of insiders like Smallwood for insights into their perspective on the company's prospects. The sales by the Wag! Group Co. CEO are part of the regular financial disclosures that provide transparency into the actions of company executives and major shareholders.
For those interested in Wag! Group Co.'s stock performance, the company trades under the ticker symbol PET on the New York Stock Exchange.
InvestingPro Insights
Amidst the recent insider trading activity by Wag! Group Co.'s CEO, Garrett Smallwood, the company's financial metrics and market performance offer additional insights for investors. According to InvestingPro data, Wag! Group Co. (NYSE:PET) has a market capitalization of 60.93 million USD, reflecting its valuation in the broader market. Despite challenges, analysts have recognized the company's ability to generate sales growth, with a notable revenue growth of 31.43% over the last twelve months as of Q1 2024.
One of the InvestingPro Tips highlights the company's impressive gross profit margins, which stood at 76.79% for the same period. This indicates efficiency in Wag! Group Co.'s operations, allowing it to retain a large percentage of its revenue as gross profit. However, it's worth noting that analysts do not expect the company to be profitable this year, and the P/E ratio stands at -4.55, reflecting investor sentiment about future earnings potential.
The stock's performance has also been a focal point, with a 32.16% decline over the last month and trading near its 52-week low. The Relative Strength Index (RSI) suggests that the stock is currently in oversold territory, which could interest value investors looking for potential rebounds. With the company not paying dividends to shareholders, stock price appreciation remains a key consideration for investors.
Interested readers can find more InvestingPro Tips for Wag! Group Co., which could provide deeper analysis and more comprehensive investment strategies. There are 9 additional tips available at: https://www.investing.com/pro/PET. For those considering an InvestingPro subscription, be sure to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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