Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 46,090 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 46,090 shares of Chewy stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $696,880.80. Following the completion of the transaction, the chief executive officer now owns 1,379,100 shares of the company’s stock, valued at approximately $20,851,992. The sale 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 Tuesday, April 2nd, Sumit Singh sold 6,728 shares of Chewy stock. The shares were sold at an average price of $15.53, for a total value of $104,485.84.
• On Monday, March 4th, Sumit Singh sold 527 shares of Chewy stock. The shares were sold at an average price of $17.79, for a total value of $9,375.33.

Chewy Trading Up 0.4 %

Shares of CHWY traded up $0.07 during trading hours on Monday, hitting $15.98. The company had a trading volume of 4,595,151 shares, compared to its average volume of 8,769,308. The company’s fifty day moving average price is $16.62 and its two-hundred day moving average price is $18.52. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.78. The company has a market capitalization of $6.95 billion, a PE ratio of 198.90, a price-to-earnings-growth ratio of 8.28 and a beta of 0.91.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.09. Chewy had a return on equity of 11.69% and a net margin of 0.33%. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. Analysts forecast that Chewy, Inc. will post 0.08 earnings per share for the current year.

Institutional Trading of Chewy

Hedge funds have recently modified their holdings of the stock. CenterBook Partners LP purchased a new position in Chewy during the third quarter worth approximately $573,000. Rafferty Asset Management LLC raised its holdings in shares of Chewy by 29.9% during the third quarter. Rafferty Asset Management LLC now owns 19,677 shares of the company’s stock valued at $359,000 after acquiring an additional 4,524 shares during the last quarter. Platinum Investment Management Ltd. acquired a new position in shares of Chewy during the third quarter valued at approximately $1,230,000. Victory Capital Management Inc. raised its holdings in shares of Chewy by 364.2% during the third quarter. Victory Capital Management Inc. now owns 57,662 shares of the company’s stock valued at $1,053,000 after acquiring an additional 45,240 shares during the last quarter. Finally, Marathon Trading Investment Management LLC acquired a new position in shares of Chewy during the third quarter valued at approximately $1,076,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CHWY. Mizuho began coverage on Chewy in a report on Tuesday, March 19th. They set a “neutral” rating and a $18.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $25.00 price objective on shares of Chewy in a report on Thursday, March 21st. Bank of America dropped their price objective on Chewy from $17.00 to $16.50 and set an “underperform” rating for the company in a report on Thursday, March 21st. Piper Sandler lowered their target price on Chewy from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. Finally, Barclays upgraded Chewy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $30.00 in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $27.50.

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.