This Fintech Stock Lagged the Market as One Fund Dumped a $4.6 Million Stake
Key Points
13D Management exited its entire stake in WEX last quarter, selling 29,350 shares; the estimated trade value was $4.59 million (based on quarterly average prices).
The quarter-end position value declined by $4.37 million, reflecting both trading activity and underlying stock price movement.
The transaction represented a 7.11% change relative to the fund’s $64.50 million reportable assets under management.
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On May 15, 2026, 13D Management disclosed a full exit from WEX (NYSE:WEX), selling 29,350 shares in a trade estimated at $4.59 million based on quarterly average pricing.
What happened
According to a Securities and Exchange Commission (SEC) filing dated May 15, 2026, 13D Management sold its entire position in WEX, disposing of 29,350 shares. The estimated transaction value was $4.59 million, calculated using the average unadjusted closing price for the 2026 first quarter. The quarter-end position value shifted by $4.37 million, a figure reflecting both share sales and price changes.
What else to know
- Top holdings following the filing:
- NYSE:TWLO: $7.64 million (11.9% of AUM)
- NASDAQ:VSAT: $7.55 million (11.7% of AUM)
- NASDAQ:ACHC: $6.88 million (10.7% of AUM)
- NYSE:PSO: $6.02 million (9.3% of AUM)
- NYSE:ALV: $5.87 million (9.1% of AUM)
- As of May 14, 2026, WEX shares were priced at $134.02, roughly flat over the past year and well underperforming the S&P 500, which is instead up 25% in the same period.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2026-05-14) | $134.02 |
| Market Capitalization | $4.9 billion |
| Revenue (TTM) | $2.70 billion |
| Net Income (TTM) | $310.40 million |
Company snapshot
- WEX offers financial technology solutions across three segments: Fleet Solutions (vehicle payment processing and analytics), Travel and Corporate Solutions (virtual payment and spend management), and Health and Employee Benefit Solutions (healthcare payments and SaaS platforms).
- The firm generates revenue primarily through transaction processing fees, software-as-a-service subscriptions, and value-added analytics and payment services to commercial and government clients.
- It serves a diverse customer base including commercial and government vehicle fleets, travel and corporate organizations, and health plan administrators.
WEX is a leading financial technology provider specializing in payment processing, spend management, and healthcare payment solutions. The company leverages technology-driven platforms to deliver integrated services to commercial and institutional clients globally. Its diversified business model and focus on specialized payment solutions underpin its competitive positioning in the fintech sector.
What this transaction means for investors
As with other names in fintech and software, WEX shares have struggled as investors scrutinized growth more heavily. But underneath the stock performance, WEX’s business is still producing healthy numbers. First-quarter revenue climbed nearly 6% to $673.8 million, while adjusted earnings per share rose 18% to $4.15. The company also raised its full-year guidance, now expecting up to $2.88 billion in revenue and as much as $19.55 in adjusted earnings per share.
Its benefits segment was especially strong, with revenue jumping 8.5% and HSA custodial assets climbing nearly 12% to $5.2 billion. Meanwhile, corporate payments revenue rose 9.3% as total company payment volume increased 7.5% to $58.1 billion. Nevertheless, the market’s reaction to the report, with shares falling some 16% afterward, signals how delicate sentiment is right now. That said, if management keeps translating growth into stronger margins and cash flow, the stock’s recent stagnation may not last forever.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Twilio. The Motley Fool recommends Pearson Plc and Wex. The Motley Fool has a disclosure policy.
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