Sumit Singh Sells 63,187 Shares of Chewy, Inc. (NYSE:CHWY) Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 63,187 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $37.62, for a total value of $2,377,094.94. Following the sale, the chief executive officer now directly owns 643,939 shares in the company, valued at approximately $24,224,985.18. This represents a 8.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Sumit Singh also recently made the following trade(s):

• On Friday, January 3rd, Sumit Singh sold 191,096 shares of Chewy stock. The shares were sold at an average price of $35.68, for a total value of $6,818,305.28.
• On Thursday, December 26th, Sumit Singh sold 571,903 shares of Chewy stock. The stock was sold at an average price of $34.52, for a total value of $19,742,091.56.
• On Tuesday, December 24th, Sumit Singh sold 71,161 shares of Chewy stock. The stock was sold at an average price of $35.00, for a total transaction of $2,490,635.00.
• On Thursday, December 19th, Sumit Singh sold 71,161 shares of Chewy stock. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50.

Chewy Price Performance

Shares of CHWY stock opened at $36.19 on Friday. The company has a market capitalization of $14.74 billion, a P/E ratio of 39.77, a P/E/G ratio of 4.28 and a beta of 1.10. The company’s 50-day simple moving average is $33.10 and its two-hundred day simple moving average is $29.23. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period last year, the business posted ($0.08) EPS. Chewy’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts expect that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CHWY shares. UBS Group raised their price target on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Royal Bank of Canada boosted their price target on shares of Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. JMP Securities reaffirmed a “market outperform” rating and set a $37.00 price target on shares of Chewy in a research note on Monday, December 16th. Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $24.00 to $42.00 in a report on Monday. Finally, TD Cowen initiated coverage on shares of Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.70.

Institutional Trading of Chewy

A number of hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in shares of Chewy by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 531,709 shares of the company’s stock valued at $15,574,000 after purchasing an additional 3,814 shares in the last quarter. Castellan Group bought a new position in Chewy in the third quarter worth approximately $5,282,000. Wilmington Savings Fund Society FSB purchased a new stake in Chewy during the third quarter worth $63,000. Virtu Financial LLC purchased a new position in shares of Chewy in the 3rd quarter valued at $795,000. Finally, Geode Capital Management LLC raised its position in shares of Chewy by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after acquiring an additional 119,633 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.