Chewy, Inc. (NYSE:CHWY) CEO Sells $4,302,701.00 in Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 114,130 shares of Chewy stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $37.70, for a total value of $4,302,701.00. Following the sale, the chief executive officer now directly owns 529,809 shares of the company’s stock, valued at approximately $19,973,799.30. The trade was a 17.72 % 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 Monday, January 6th, Sumit Singh sold 63,187 shares of Chewy stock. The stock was sold at an average price of $37.62, for a total value of $2,377,094.94.
• 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 transaction 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 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 Trading Down 0.8 %

CHWY stock traded down $0.29 during trading on Friday, hitting $36.99. 3,380,283 shares of the stock traded hands, compared to its average volume of 6,253,734. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of 40.64, a P/E/G ratio of 4.06 and a beta of 1.10. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10. The company has a 50 day simple moving average of $33.85 and a 200 day simple moving average of $29.51.

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

Hedge Funds Weigh In On Chewy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Choreo LLC bought a new position in shares of Chewy in the second quarter valued at about $205,000. American Century Companies Inc. lifted its position in shares of Chewy by 46.0% during the second quarter. American Century Companies Inc. now owns 29,111 shares of the company’s stock worth $793,000 after purchasing an additional 9,166 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Chewy during the second quarter worth approximately $380,000. Envestnet Asset Management Inc. grew its stake in shares of Chewy by 243.6% during the second quarter. Envestnet Asset Management Inc. now owns 165,662 shares of the company’s stock valued at $4,513,000 after purchasing an additional 117,454 shares during the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in shares of Chewy in the second quarter valued at approximately $271,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CHWY. Barclays raised their price objective on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Robert W. Baird increased their target price on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. lifted their price target on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. TD Cowen initiated coverage on Chewy in a research report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price objective for the company. Finally, Mizuho raised shares of Chewy from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $24.00 to $42.00 in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.80.

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.