Wise Group (NASDAQ:WSE) CTO Sells $497,307.00 in Stock

Wise Group plc (NASDAQ:WSE) CTO Harsh Sinha sold 42,324 shares of Wise Group stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $11.75, for a total value of $497,307.00. Following the sale, the chief technology officer directly owned 979,030 shares in the company, valued at approximately $11,503,602.50. This trade represents a 4.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wise Group Stock Down 0.3%

Shares of WSE stock traded down $0.03 during mid-day trading on Monday, hitting $10.95. 3,117,050 shares of the stock traded hands, compared to its average volume of 2,275,641. Wise Group plc has a twelve month low of $10.36 and a twelve month high of $17.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.07. The stock’s 50-day simple moving average is $12.18.

Wise Group (NASDAQ:WSE) last announced its quarterly earnings data on Thursday, June 25th. The company reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $576.48 million during the quarter. Equities analysts expect that Wise Group plc will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wise Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi bought a new stake in Wise Group in the second quarter valued at about $58,328,000. Ninety One UK Ltd lifted its position in Wise Group by 37.4% in the 3rd quarter. Ninety One UK Ltd now owns 7,195,705 shares of the company’s stock valued at $82,629,000 after acquiring an additional 1,959,751 shares in the last quarter. Allianz Asset Management GmbH bought a new position in shares of Wise Group during the second quarter worth about $14,441,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Wise Group in the second quarter valued at approximately $3,154,000. Finally, Citadel Advisors LLC acquired a new stake in Wise Group in the 2nd quarter valued at $2,695,000.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WSE. Barclays upgraded Wise Group to a “strong-buy” rating in a research note on Tuesday, July 7th. Weiss Ratings upgraded shares of Wise Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. lifted their price target on shares of Wise Group from $17.30 to $17.70 and gave the stock an “overweight” rating in a research note on Friday. Wall Street Zen lowered Wise Group from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Morgan Stanley initiated coverage on shares of Wise Group in a report on Monday, June 29th. They set an “equal weight” rating and a $16.10 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Wise Group presently has an average rating of “Moderate Buy” and a consensus price target of $16.94.

Wise Group Company Profile

Wise Group PLC is a technology company. Its product offering includes Wise Account, Wise Business and Wise Platform. Wise Account is its solution for people with cross-border financial needs. Wise Business offers product along with business-specific functionalities designed to enable business customers. Wise Platform provide financial services for banks, financial institutions and enterprises. Wise Group PLC is based in LONDON, United Kingdom.