Wag! Group Co. (NYSE:PET) has reported a recent transaction by Chief Operating Officer Dylan Allread, who sold company shares valued at more than $5,000. The executive offloaded shares on two separate occasions, with sales totaling $5,080.
On June 3rd and 4th, Allread executed the sale of 3,200 shares of Wag! Group Co. common stock. The shares were sold at weighted average prices ranging from $1.55 to $1.59, with the total proceeds from these sales amounting to approximately $5,080.
In addition to the sales, Allread also engaged in transactions to acquire shares at a price of $0.09 per share, which were exercised options for common stock. These transactions are part of a pre-arranged trading plan under Rule 10b5-1, which the executive had adopted on September 14, 2023.
The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, dated June 4, 2024. Following the sales, Allread's direct ownership in the company stands at 650,566 shares of common stock. The options exercised by the COO were fully vested as of November 29, 2022, as indicated in the footnotes of the filing.
Investors often monitor insider transactions as they provide insights into executives' perspectives on the company's stock value. Dylan Allread's recent sales and acquisitions offer a glimpse into the executive's trading activities and ownership stake in Wag! Group Co.
InvestingPro Insights
As Wag! Group Co. (NYSE:PET) navigates through its financial landscape, recent transactions by Chief Operating Officer Dylan Allread have put the company's stock performance in the spotlight. In light of these developments, a look at some key InvestingPro metrics and tips may offer additional context for investors considering Wag! Group Co.'s potential.
InvestingPro data indicates a market capitalization of $60.93M for Wag! Group Co., reflecting the company's size in the market. Despite the challenges, the company has demonstrated a robust revenue growth of 31.43% over the last twelve months as of Q1 2024. This growth is further underscored by an impressive gross profit margin of 76.79%, suggesting that Wag! Group Co. is effective in managing its cost of goods sold and maintaining profitability on its products and services.
However, it is important to note that the company's P/E ratio stands at -4.55, and the adjusted P/E ratio for the last twelve months as of Q1 2024 is -4.93, which may raise concerns about the company's earnings relative to its share price. Moreover, an InvestingPro Tip highlights that analysts do not anticipate the company will be profitable this year, which aligns with the negative return on assets of -30.45% reported for the same period.
For investors seeking a deeper dive into Wag! Group Co.'s financials and strategic positioning, InvestingPro offers additional tips. For instance, the Relative Strength Index (RSI) suggests the stock is in oversold territory, and the stock is trading near its 52-week low. These insights could be pivotal for investors trying to gauge entry points or considering the stock's potential for a rebound.
InvestingPro subscribers have access to even more in-depth analysis and tips. There are 9 additional InvestingPro Tips available for Wag! Group Co. at https://www.investing.com/pro/PET, which can provide further guidance on the company's performance and outlook. Interested readers can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of data and expert insights to inform their investment decisions.
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