Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh Sells 57,432 Shares

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 57,432 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $37.90, for a total value of $2,176,672.80. Following the completion of the sale, the chief executive officer now directly owns 877,704 shares in the company, valued at approximately $33,264,981.60. This represents a 6.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, January 30th, Sumit Singh sold 9,285 shares of Chewy stock. The shares were sold at an average price of $40.00, for a total value of $371,400.00.
• On Wednesday, January 22nd, Sumit Singh sold 13,472 shares of Chewy stock. The stock was sold at an average price of $37.55, for a total value of $505,873.60.
• On Friday, January 17th, Sumit Singh sold 4,000 shares of Chewy stock. The stock was sold at an average price of $37.52, for a total value of $150,080.00.
• 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 transaction 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 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 value of $2,312,732.50.

Chewy Price Performance

Shares of NYSE CHWY opened at $37.17 on Friday. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.09. The firm has a fifty day moving average price of $35.36 and a 200-day moving average price of $30.83. The stock has a market cap of $15.13 billion, a PE ratio of 40.84, a price-to-earnings-growth ratio of 4.36 and a beta of 1.10.

Chewy (NYSE:CHWY) last posted its quarterly 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. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned ($0.08) earnings per share. On average, research analysts expect that Chewy, Inc. will post 0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their target price on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Morgan Stanley raised their target price on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Evercore ISI upgraded shares of Chewy from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $34.00 to $47.00 in a research note on Monday, January 13th. Finally, Wolfe Research upgraded Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its position in shares of Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after buying an additional 444 shares during the last quarter. Blue Trust Inc. grew its stake in Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after acquiring an additional 905 shares in the last quarter. Planning Capital Management Corp bought a new stake in Chewy in the 3rd quarter valued at $52,000. Future Financial Wealth Managment LLC purchased a new stake in Chewy in the 3rd quarter worth $62,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Chewy during the 3rd quarter valued at about $63,000. 93.09% of the stock is currently owned by institutional investors.

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.