Last week was certainly not the best of weeks for shareholders of Catapult Group International Ltd (ASX: CAT). Its share price plummeted by around 12%, with the majority of these declines coming on Friday.

Whilst this will no doubt have many shareholders of the growing wearable sports analytics equipment company concerned, I wouldn’t personally worry too much about these declines.

Considering the company recently completed an institutional placement at an issue price of $3 per share in order to acquire PLAYERTEK and XOS, I wouldn’t be too surprised if some shareholders decided to take a few profits. After all, up until very recently the share price was 33% higher than the issue price.

In my opinion this decline has brought its share price down to an attractive entry level for investors that are prepared to buy and hold its shares for the long-term.

Catapult is a company which I believe is still only a fraction of the size it will be in the future. The company has a growing client list using its products that consists of some of the biggest and most successful sports teams in the world.

But as well as individual clubs and athletes, the company has league-wide deals with the AFL, NRL, and ARU. Importantly management sees these league-wide deals as an opportunity for further revenue streams through the monetisation of data.

Leading Catapult’s league-wide team is the vastly experienced Karl Hogan. The former Opta business development director has a strong background and was responsible for Opta’s commercial relationships with UEFA, FIFA, the English Premier League and Football League, and the Dutch Eredivisie. As well as this he established commercial data agreements with Sky Sports, BT Sports, BBC Sport, Fox Sports, and ESPN.

With Hogan at the helm I feel confident that more league-wide deals will come in time, as well as potentially lucrative top-line-boosting data agreements. This should help the company continue to grow at a strong enough rate to justify trading on high multiples like fellow tech shares Aconex Ltd (ASX: ACX) and XERO FPO NZX (ASX: XRO).

So instead of panicking and selling shares, I would use this as an opportunity to top up and then hold tight to your shares for the long-term.

Finally, before adding Catapult to your portfolio I would highly recommend taking a look to see if you have either of these three wealth-destroying shares in your portfolio. Now might be a great time to swap them out.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.