Wag! Group Co. (NYSE:PET) CEO Garrett Smallwood recently sold shares of the company's stock, totaling over $72,000. The transactions were carried out in multiple trades at varying prices, according to a new SEC filing.
On May 17, 2024, Smallwood sold 12,606 shares of Wag! Group's common stock at an average price of $1.94, and on May 20, 2024, he sold an additional 28,443 shares at an average price of $1.70. The prices for these sales ranged from $1.57 to $2.03, as detailed in the footnotes of the SEC filing. The footnotes also indicate that these sales were conducted under a prearranged 10b5-1 trading plan, which allows company insiders to sell shares at predetermined times to avoid accusations of insider trading.
Following these transactions, CEO Garrett Smallwood's direct ownership in the company stands at 1,252,230 shares. Investors often look to the trading activity of company insiders for signals about the company's performance and prospects, although such sales do not always indicate a change in company outlook.
Wag! Group Co., known for its personal services in the pet care industry, has its shares publicly traded under the ticker symbol PET on the New York Stock Exchange. The company, formerly known as CHW Acquisition Corp, is headquartered in San Francisco, California.
InvestingPro Insights
As Wag! Group Co. (NYSE:PET) navigates the dynamic pet care market, recent activity by CEO Garrett Smallwood has caught the attention of investors. In light of these developments, InvestingPro offers an analytical perspective on the company's financial standing and future potential.
An important InvestingPro Tip to consider is that analysts are anticipating sales growth for Wag! Group in the current year, which could signal underlying business strength despite recent insider sales. This is supported by the company's impressive gross profit margin of 76.79%, as per the last twelve months leading up to Q1 2024, which is a testament to its operational efficiency within the pet care industry.
From a financial data standpoint, Wag! Group's market capitalization stands at $77.86 million USD, reflecting its valuation within the market. However, the company's P/E ratio is currently negative at -6.42, indicating that it may not yet be profitable, a detail that aligns with the InvestingPro Tip suggesting analysts do not anticipate the company will be profitable this year. Additionally, the stock has experienced significant volatility, with a 1-week price total return of -20.35%, highlighting the stock's recent performance challenges.
For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available on the platform, which could offer deeper insights into Wag! Group's financial health and strategic direction. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to a total of 8 InvestingPro Tips for Wag! Group Co.
Understanding the full scope of Wag! Group's financial metrics and analyst expectations can help investors make more informed decisions, especially in the context of recent insider trading activity.
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