Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 191,096 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 191,096 shares of Chewy stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.68, for a total transaction of $6,818,305.28. Following the completion of the transaction, the chief executive officer now directly owns 707,126 shares in the company, valued at approximately $25,230,255.68. The trade was a 21.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, December 26th, Sumit Singh sold 571,903 shares of Chewy stock. The shares were sold at an average price of $34.52, for a total transaction 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 shares were sold at an average price of $32.50, for a total value of $2,312,732.50.

Chewy Trading Down 3.3 %

Shares of NYSE:CHWY opened at $35.85 on Wednesday. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.10. The business has a 50 day moving average of $32.73 and a two-hundred day moving average of $29.13. The company has a market capitalization of $14.60 billion, a PE ratio of 39.40, a PEG ratio of 4.28 and a beta of 1.10.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the previous year, the business posted ($0.08) EPS. The business’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Robert W. Baird upped their target price on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. upped their price objective on shares of Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and upped their price target for the company from $24.00 to $42.00 in a research note on Monday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $39.00 price target (up previously from $35.00) on shares of Chewy in a report on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.70.

Institutional Investors Weigh In On Chewy

Several hedge funds have recently modified their holdings of the company. BC Partners Advisors L.P. purchased a new position in shares of Chewy in the 2nd quarter valued at about $7,517,800,000. Marshall Wace LLP raised its position in shares of Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after buying an additional 2,636,526 shares during the last quarter. FMR LLC lifted its stake in shares of Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after buying an additional 2,497,689 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Chewy during the second quarter worth about $40,798,000. Finally, Eagle Asset Management Inc. grew its stake in Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after acquiring an additional 975,647 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.