Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh Sells 9,285 Shares

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 9,285 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $371,400.00. Following the completion of the sale, the chief executive officer now owns 489,750 shares of the company’s stock, valued at $19,590,000. This represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Wednesday, January 22nd, Sumit Singh sold 13,472 shares of Chewy stock. The shares were sold at an average price of $37.55, for a total value of $505,873.60.
• On Friday, January 17th, Sumit Singh sold 4,000 shares of Chewy stock. The stock was sold at an average price of $37.52, for a total transaction of $150,080.00.
• On Wednesday, January 15th, Sumit Singh sold 114,130 shares of Chewy stock. The stock was sold at an average price of $37.70, for a total transaction of $4,302,701.00.
• On Monday, January 6th, Sumit Singh sold 63,187 shares of Chewy stock. The shares were sold at an average price of $37.62, for a total transaction of $2,377,094.94.
• On Friday, January 3rd, Sumit Singh sold 191,096 shares of Chewy stock. The stock was sold at an average price of $35.68, for a total transaction 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 shares were sold at an average price of $35.00, for a total value 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 transaction of $2,312,732.50.

Chewy Price Performance

Shares of Chewy stock opened at $38.95 on Friday. The company has a market capitalization of $15.86 billion, a P/E ratio of 42.80, a price-to-earnings-growth ratio of 4.36 and a beta of 1.10. The business has a 50-day moving average of $34.99 and a two-hundred day moving average of $30.50. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.09.

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

Institutional Investors Weigh In On Chewy

Institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Chewy by 15.1% in the second quarter. The Manufacturers Life Insurance Company now owns 27,044 shares of the company’s stock valued at $737,000 after purchasing an additional 3,538 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Chewy by 74.0% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 49,357 shares of the company’s stock valued at $1,344,000 after buying an additional 20,998 shares during the last quarter. Truist Financial Corp lifted its stake in Chewy by 39.3% in the 2nd quarter. Truist Financial Corp now owns 20,732 shares of the company’s stock valued at $565,000 after acquiring an additional 5,847 shares in the last quarter. Cetera Investment Advisers boosted its position in Chewy by 10.9% during the 2nd quarter. Cetera Investment Advisers now owns 91,831 shares of the company’s stock worth $2,501,000 after acquiring an additional 9,039 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new position in shares of Chewy during the 2nd quarter worth approximately $40,798,000. 93.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley boosted their target price on Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $24.00 to $42.00 in a report on Monday, January 6th. Wedbush reaffirmed an “outperform” rating and issued a $39.00 price target (up from $35.00) on shares of Chewy in a report on Thursday, December 5th. Argus upgraded shares of Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, UBS Group upped their target price on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chewy currently has an average rating of “Moderate Buy” and a consensus price target of $36.80.

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.