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 the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $696,880.80. Following the sale, the chief executive officer now directly owns 1,379,100 shares in the company, valued at approximately $20,851,992. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, April 2nd, Sumit Singh sold 6,728 shares of Chewy stock. The stock was 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 Price Performance

NYSE CHWY opened at $15.44 on Thursday. The stock has a market capitalization of $6.72 billion, a PE ratio of 193.02, a P/E/G ratio of 8.28 and a beta of 0.91. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.78. The business has a 50 day simple moving average of $16.57 and a two-hundred day simple moving average of $18.50.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. Chewy had a net margin of 0.33% and a return on equity of 11.69%. On average, analysts anticipate that Chewy, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Trading of Chewy

Several hedge funds have recently made changes to their positions in CHWY. Baillie Gifford & Co. increased its stake in Chewy by 7.2% during the first quarter. Baillie Gifford & Co. now owns 19,819,195 shares of the company’s stock worth $315,323,000 after acquiring an additional 1,336,431 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Chewy by 13.5% during the 4th quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock valued at $226,959,000 after purchasing an additional 1,140,269 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Chewy by 101.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock valued at $63,518,000 after buying an additional 1,751,131 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Chewy in the fourth quarter worth $42,223,000. Finally, Qube Research & Technologies Ltd boosted its stake in Chewy by 141.2% during the third quarter. Qube Research & Technologies Ltd now owns 1,188,823 shares of the company’s stock worth $21,708,000 after buying an additional 695,907 shares during the period. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of Chewy in a research note on Thursday, March 21st. Mizuho began coverage on Chewy in a report on Tuesday, March 19th. They set a “neutral” rating and a $18.00 price target for the company. Royal Bank of Canada decreased their price objective on Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. JMP Securities reiterated a “market outperform” rating and set a $28.00 price objective on shares of Chewy in a research note on Friday, March 15th. Finally, Citigroup lowered their price target on shares of Chewy from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $26.83.

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.