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 the stock in a transaction dated 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 of the company’s stock, valued at $25,230,255.68. This trade represents a 21.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 stock was sold at an average price of $32.50, for a total value of $2,312,732.50.

Chewy Stock Performance

NYSE CHWY traded down $1.22 on Tuesday, hitting $35.85. The stock had a trading volume of 9,872,445 shares, compared to its average volume of 8,271,520. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 39.40, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10. The firm has a 50-day moving average of $32.54 and a 200-day moving average of $29.06. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $39.10.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.15. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. Chewy’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. As a group, research analysts anticipate that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. The Goldman Sachs Group increased their price objective on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and raised their price target for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Piper Sandler lifted their target price on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. TD Cowen started coverage on Chewy in a report on Wednesday, October 9th. They set a “buy” rating and a $38.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.70.

Hedge Funds Weigh In On Chewy

Several hedge funds and other institutional investors have recently modified their holdings of CHWY. Blue Trust Inc. boosted its position in Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after acquiring an additional 905 shares in the last quarter. Planning Capital Management Corp bought a new stake in shares of Chewy in the 3rd quarter worth approximately $52,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Chewy in the 3rd quarter worth approximately $62,000. Wilmington Savings Fund Society FSB purchased a new position in Chewy during the third quarter valued at $63,000. Finally, Castleview Partners LLC bought a new stake in Chewy in the third quarter worth $76,000. 93.09% of the stock is owned by institutional investors.

About Chewy

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.