Chewy, Inc. (NYSE:CHWY) CTO Sells $2,540,594.00 in Stock

Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the sale, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at approximately $9,357,566.80. The trade was a 21.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Satish Mehta also recently made the following trade(s):

• On Thursday, January 30th, Satish Mehta sold 83,639 shares of Chewy stock. The shares were sold at an average price of $40.00, for a total value of $3,345,560.00.
• On Monday, January 13th, Satish Mehta sold 168,105 shares of Chewy stock. The shares were sold at an average price of $36.32, for a total value of $6,105,573.60.

Chewy Stock Up 0.0 %

Shares of CHWY opened at $33.21 on Thursday. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.09. The firm has a market capitalization of $13.52 billion, a price-to-earnings ratio of 36.49, a P/E/G ratio of 2.21 and a beta of 1.23. The stock’s 50-day moving average price is $36.70 and its 200 day moving average price is $32.74.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CHWY. JMP Securities restated a “market outperform” rating and set a $37.00 target price on shares of Chewy in a report on Monday, December 16th. Royal Bank of Canada raised their target price on Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Wolfe Research upgraded Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Evercore ISI upgraded Chewy from an “in-line” rating to an “outperform” rating and raised their target price for the company from $34.00 to $47.00 in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.30.

Hedge Funds Weigh In On Chewy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in Chewy during the fourth quarter valued at approximately $30,000. Fifth Third Bancorp boosted its holdings in Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after purchasing an additional 444 shares in the last quarter. Planning Capital Management Corp acquired a new stake in Chewy during the third quarter valued at approximately $52,000. Blue Trust Inc. boosted its holdings in Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Chewy during the third quarter valued at approximately $63,000. 93.09% of the stock is currently owned by 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.