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

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 63,187 shares of Chewy stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 643,939 shares of the company’s stock, valued at approximately $24,224,985.18. This trade represents a 8.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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 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 shares were 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

Chewy stock opened at $36.34 on Friday. The business has a 50 day simple moving average of $33.29 and a 200-day simple moving average of $29.29. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10. The stock has a market capitalization of $14.80 billion, a PE ratio of 39.93, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10.

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

Hedge Funds Weigh In On Chewy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its holdings in Chewy by 20.3% during the second quarter. Commonwealth Equity Services LLC now owns 48,704 shares of the company’s stock worth $1,327,000 after acquiring an additional 8,228 shares during the period. Arizona State Retirement System grew its stake in shares of Chewy by 15.3% during the 2nd quarter. Arizona State Retirement System now owns 38,087 shares of the company’s stock worth $1,037,000 after purchasing an additional 5,048 shares during the period. PFG Investments LLC increased its holdings in shares of Chewy by 22.4% in the 2nd quarter. PFG Investments LLC now owns 13,189 shares of the company’s stock valued at $359,000 after purchasing an additional 2,416 shares in the last quarter. Choreo LLC acquired a new stake in shares of Chewy in the second quarter valued at about $205,000. Finally, Malaga Cove Capital LLC boosted its holdings in Chewy by 18.9% during the second quarter. Malaga Cove Capital LLC now owns 53,766 shares of the company’s stock worth $1,465,000 after buying an additional 8,534 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CHWY. Citigroup raised Chewy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $28.00 to $40.00 in a report on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. BNP Paribas lowered shares of Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Piper Sandler boosted their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.70.

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.