Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 71,161 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 71,161 shares of Chewy stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the sale, the chief executive officer now directly owns 77,838 shares in the company, valued at $2,529,735. This trade represents a 47.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Chewy Stock Performance

Shares of CHWY stock traded up $1.19 during trading on Monday, hitting $34.91. 4,703,811 shares of the company were exchanged, compared to its average volume of 8,533,634. The firm has a market capitalization of $14.25 billion, a price-to-earnings ratio of 38.36, a P/E/G ratio of 4.28 and a beta of 1.12. The business’s 50-day simple moving average is $31.10 and its 200 day simple moving average is $28.21. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.86 billion. During the same period in the previous year, the company posted ($0.08) EPS. Chewy’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chewy

Hedge funds and other institutional investors have recently made changes to their positions in the company. BC Partners Advisors L.P. bought a new position in shares of Chewy during the 2nd quarter valued at $7,517,800,000. Marshall Wace LLP increased its holdings in shares of Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after acquiring an additional 2,636,526 shares during the last quarter. FMR LLC raised its stake in shares of Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after acquiring an additional 2,497,689 shares in the last quarter. Fiera Capital Corp bought a new stake in Chewy during the second quarter worth approximately $44,373,000. Finally, Clearbridge Investments LLC acquired a new position in Chewy during the second quarter valued at approximately $40,798,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CHWY has been the topic of several recent analyst reports. Evercore ISI boosted their price target on Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. BNP Paribas cut Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and increased their price objective for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. Finally, Robert W. Baird increased their price target on shares of Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and an average price target of $34.60.

About Chewy

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.