Whetstone Capital Advisors LLC Buys 1,354,558 Shares of Wag! Group Co. (NASDAQ:PET)

Whetstone Capital Advisors LLC lifted its position in Wag! Group Co. (NASDAQ:PET) by 156.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,222,413 shares of the company’s stock after purchasing an additional 1,354,558 shares during the quarter. Wag! Group accounts for approximately 0.9% of Whetstone Capital Advisors LLC’s holdings, making the stock its 25th biggest holding. Whetstone Capital Advisors LLC owned approximately 4.55% of Wag! Group worth $1,911,000 at the end of the most recent reporting period.

Separately, Cowen AND Company LLC acquired a new position in Wag! Group in the second quarter worth $72,000. Institutional investors and hedge funds own 86.16% of the company’s stock.

Wag! Group Stock Performance

Shares of PET opened at $0.20 on Monday. Wag! Group Co. has a 1 year low of $0.14 and a 1 year high of $2.47. The stock’s 50-day moving average price is $0.70 and its two-hundred day moving average price is $1.11.

Wall Street Analyst Weigh In

PET has been the subject of a number of research reports. Craig Hallum lowered Wag! Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Lake Street Capital cut shares of Wag! Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Oppenheimer dropped their target price on shares of Wag! Group from $6.00 to $3.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4.40.

Insider Buying and Selling at Wag! Group

In other news, major shareholder John P. Szabo, Jr. purchased 50,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were purchased at an average price of $0.93 per share, with a total value of $46,500.00. Following the purchase, the insider now directly owns 3,250,000 shares of the company’s stock, valued at $3,022,500. This trade represents a 1.56 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Alec Davidian sold 36,204 shares of Wag! Group stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $0.72, for a total value of $26,066.88. Following the completion of the sale, the chief financial officer now directly owns 839,400 shares in the company, valued at approximately $604,368. This represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 317,504 shares of company stock valued at $163,636. Company insiders own 23.20% of the company’s stock.

Wag! Group 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.