Insider Selling: Chewy, Inc. (NYSE:CHWY) Major Shareholder Sells 1,338,262 Shares of Stock

Chewy, Inc. (NYSE:CHWY) major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of Chewy stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total value of $40,576,103.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Argos Holdings Gp Llc also recently made the following trade(s):

• On Wednesday, June 26th, Argos Holdings Gp Llc sold 17,550,000 shares of Chewy stock. The stock was sold at an average price of $28.49, for a total value of $499,999,500.00.

Chewy Stock Performance

CHWY stock opened at $24.10 on Friday. The firm has a market cap of $10.48 billion, a PE ratio of 133.89, a PEG ratio of 3.78 and a beta of 1.03. The firm’s 50 day moving average price is $20.39 and its 200-day moving average price is $19.07. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.46.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. Equities research analysts predict that Chewy, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Bank of America lowered their price objective on Chewy from $17.00 to $16.50 and set an “underperform” rating on the stock in a report on Thursday, March 21st. The Goldman Sachs Group lowered their price objective on Chewy from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. JPMorgan Chase & Co. lifted their price objective on Chewy from $22.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Royal Bank of Canada lowered their price objective on Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Finally, Morgan Stanley boosted their target price on Chewy from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Institutional Trading of Chewy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Advisors LLC purchased a new stake in Chewy in the first quarter valued at approximately $334,000. Swedbank AB purchased a new stake in Chewy in the first quarter valued at approximately $416,000. Virtu Financial LLC purchased a new stake in Chewy in the first quarter valued at approximately $388,000. California State Teachers Retirement System increased its position in shares of Chewy by 2.2% during the first quarter. California State Teachers Retirement System now owns 108,448 shares of the company’s stock worth $1,725,000 after acquiring an additional 2,321 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Chewy by 3.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock valued at $451,000 after acquiring an additional 870 shares in the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.