The WiseTech Global Ltd (ASX: WTC) share price is down by 5% at the time of writing.
WiseTech Global is the owner of logistics software CargoWise One, the single-platform solution for international and domestic logistics industries.
After a number of recent acquisitions it now has over 8,000 logistics organisations using its software in 130 countries.
Over the past six months its share price is roughly flat, but since its all-time high during reporting season WiseTech's share price has actually fallen by around a third.
The fall in the WiseTech share price is following on from declines in the US tech FAANG shares. WiseTech also announced yesterday that in an on-market trade Chairman Charles Gibbon decided to sell 100,000 shares at a price of $18.36 per share.
Shareholders will be hoping for a promising update in reporting season. WiseTech recently reconfirmed FY19 revenue will be between $320 million and $333 million, reflecting revenue growth of 44% to 50%. Earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to grow by 31% to 37% which could come in at $102 million to $107 million.
