Jane Street Group LLC Purchases 168,558 Shares of WEX Inc. $WEX

Key Points

• Jane Street Group LLC increased its stake in WEX Inc. by 399.9% during the first quarter, now holding approximately 0.62% of the company, valued at $33.1 million.
• Several brokerages have raised their price targets for WEX, with Robert W. Baird setting a new target of $198.00 and Barclays adjusting to $170.00, indicating positive analyst sentiment.
• Insider activities included COO Carlos Carriedo selling 875 shares, impacting his ownership by 14.24%, while the stock is currently down 3.5% from its previous trading session.

Jane Street Group LLC raised its holdings in WEX Inc. (NYSE:WEX - Free Report) by 399.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 210,707 shares of the business services provider's stock after purchasing an additional 168,558 shares during the period. Jane Street Group LLC owned 0.62% of WEX worth $33,085,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WEX. Investment Management Corp VA ADV purchased a new position in shares of WEX during the fourth quarter valued at approximately $25,000. State of Wyoming purchased a new position in WEX during the fourth quarter worth approximately $35,000. Farther Finance Advisors LLC raised its stake in WEX by 161.5% during the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider's stock worth $44,000 after purchasing an additional 168 shares during the period. Quarry LP purchased a new position in WEX during the first quarter worth approximately $44,000. Finally, SVB Wealth LLC purchased a new position in WEX during the first quarter worth approximately $49,000. Hedge funds and other institutional investors own 97.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WEX shares. Mizuho increased their price target on shares of WEX from $150.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Robert W. Baird increased their price target on shares of WEX from $186.00 to $198.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. UBS Group increased their price target on shares of WEX from $138.00 to $185.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Barclays increased their price target on shares of WEX from $135.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of WEX in a research note on Thursday, July 17th. They set a "hold" rating and a $150.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $179.82.

Insider Activity at WEX

In related news, insider Ann Elena Drew sold 1,931 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $171.69, for a total transaction of $331,533.39. Following the transaction, the insider directly owned 7,295 shares of the company's stock, valued at approximately $1,252,478.55. The trade was a 20.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Carlos Carriedo sold 875 shares of WEX stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $171.68, for a total transaction of $150,220.00. Following the completion of the sale, the chief operating officer owned 5,270 shares of the company's stock, valued at $904,753.60. This trade represents a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

WEX Price Performance

Shares of WEX stock traded up $1.62 during midday trading on Thursday, reaching $168.97. 117,674 shares of the company were exchanged, compared to its average volume of 655,857. WEX Inc. has a 12 month low of $110.45 and a 12 month high of $217.47. The company has a market cap of $5.79 billion, a P/E ratio of 21.36, a PEG ratio of 1.61 and a beta of 1.31. The company's 50 day moving average price is $168.05 and its two-hundred day moving average price is $149.61. The company has a debt-to-equity ratio of 3.99, a quick ratio of 1.04 and a current ratio of 1.04.

WEX Company Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.