Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh Sells 4,000 Shares

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 4,000 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $37.52, for a total transaction of $150,080.00. Following the transaction, the chief executive officer now directly owns 518,581 shares of the company’s stock, valued at $19,457,159.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, January 15th, Sumit Singh sold 114,130 shares of Chewy stock. The shares were 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 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 value 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 stock was 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 Trading Up 0.4 %

Shares of Chewy stock traded up $0.14 during trading on Tuesday, hitting $37.15. 5,105,025 shares of the stock traded hands, compared to its average volume of 6,176,005. The stock’s fifty day simple moving average is $34.04 and its 200 day simple moving average is $29.75. The firm has a market cap of $15.13 billion, a P/E ratio of 40.82, a price-to-earnings-growth ratio of 4.14 and a beta of 1.10. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $39.10.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating 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 business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter last year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts expect that Chewy, Inc. will post 0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CHWY shares. TD Cowen began coverage on shares of Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 price objective for the company. Piper Sandler increased their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Royal Bank of Canada boosted their price objective on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Morgan Stanley upped their price objective on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Chewy has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp grew its stake in Chewy by 83.0% in 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 during the last quarter. Blue Trust Inc. boosted its holdings in shares of Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after buying an additional 905 shares in the last quarter. Planning Capital Management Corp purchased a new position in shares of Chewy in the 3rd quarter worth approximately $52,000. Future Financial Wealth Managment LLC bought a new position in shares of Chewy during the 3rd quarter worth approximately $62,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Chewy during the third quarter valued at approximately $63,000. 93.09% of the stock is currently owned by hedge funds and other 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.