Wag! Group Co. CTO Maziar Arjomand Sells Over $34K In Company Stock By Investing.com | Old North State Wealth News
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Wag! group co. CTO Maziar Arjomand sells over $34K in company stock By Investing.com



Wag! Group Co. (NYSE:PET), a company known for its services in the personal sector, has reported a recent sale of shares by Chief Technology Officer Maziar Arjomand. According to the latest filings, Arjomand sold a total of 17,825 shares of common stock over two consecutive days.

On the first day, Arjomand sold 11,908 shares, and on the following day, an additional 5,917 shares were sold. The transactions were carried out at a weighted average price of $1.96 per share, with the sales conducted in multiple transactions at prices ranging from $1.95 to $2.03. The total amount realized from these sales was approximately $34,937.

The sales were made under a pre-arranged 10b5-1 trading plan, which allows company insiders to establish a predetermined plan for trading stocks at a time when they are not in possession of material non-public information. This plan had been adopted by Arjomand on December 8, 2023.

Following these transactions, Arjomand continues to hold a significant number of shares in the company, with 930,501 shares remaining in his possession. The sales and the remaining ownership stake demonstrate a balance between personal asset management and continued investment in the company’s future.

Investors often monitor insider sales as they may provide insights into an executive’s view of the company’s current valuation and future prospects. However, it is important to note that there can be many reasons for an insider to sell shares, including diversifying personal finances, tax planning, or other personal needs, and such sales do not necessarily indicate a lack of confidence in the company.

Wag! Group Co. has not provided any additional comments on the transactions at this time. Interested parties, including security holders of Wag! Group Co. or staff of the Securities and Exchange Commission, can request detailed information about the exact prices at which the shares were sold within the reported ranges.

InvestingPro Insights

Wag! Group Co. (NYSE:PET) has seen a flurry of activity with the recent share sales by its Chief Technology Officer, Maziar Arjomand. As investors digest this news, it’s worth considering the company’s financial health and market performance to better understand the context of these transactions.

InvestingPro Data indicates that Wag! Group Co. has a market capitalization of approximately $79.48 million. Despite a challenging profitability outlook, as analysts do not expect the company to be profitable this year, the company has reported an impressive revenue growth of 52.95% over the last twelve months as of Q4 2023. This growth is further highlighted by a quarterly increase of 27.22% in Q4 2023.

One of the notable InvestingPro Tips highlights the company’s impressive gross profit margins, which stand at 76.47% for the last twelve months as of Q4 2023. This suggests that Wag! Group Co. is effective at controlling the cost of goods sold and generating revenue from its services. Additionally, the company’s liquid assets exceed short-term obligations, indicating a solid liquidity position.

The stock price movements for Wag! Group Co. have been quite volatile, with a 14.86% price total return over the last three months as of Y2024.D93. This volatility may be of interest to investors looking for short-term trading opportunities or those considering the timing of their investments in relation to insider trading activities.

For those looking to explore additional insights, InvestingPro offers more tips on Wag! Group Co. By signing up, users can gain access to a comprehensive analysis that could help in making informed investment decisions. Remember to use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 9 additional InvestingPro Tips available, investors can delve deeper into the company’s financial nuances and market potential.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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