Sumit Singh Sells 8,552 Shares of Chewy, Inc. (NYSE:CHWY) Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 8,552 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total value of $285,209.20. Following the transaction, the chief executive officer now owns 62,096 shares of the company’s stock, valued at approximately $2,070,901.60. This trade represents a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, February 5th, Sumit Singh sold 57,432 shares of Chewy stock. The shares were sold at an average price of $37.90, for a total transaction of $2,176,672.80.
• On Thursday, January 30th, Sumit Singh sold 9,285 shares of Chewy stock. The stock was sold at an average price of $40.00, for a total transaction of $371,400.00.
• On Wednesday, January 22nd, Sumit Singh sold 13,472 shares of Chewy stock. The shares were sold at an average price of $37.55, for a total transaction of $505,873.60.
• On Friday, January 17th, Sumit Singh sold 4,000 shares of Chewy stock. The shares were 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 stock was sold at an average price of $37.70, for a total value of $4,302,701.00.
• On Monday, January 6th, Sumit Singh sold 63,187 shares of Chewy stock. The shares were sold at an average price of $37.62, for a total value of $2,377,094.94.

Chewy Stock Performance

NYSE:CHWY opened at $31.48 on Friday. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 34.59, a P/E/G ratio of 2.21 and a beta of 1.68. The stock’s fifty day moving average price is $35.43 and its two-hundred day moving average price is $33.26. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $40.09.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.25. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share. On average, equities analysts predict that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Banque Transatlantique SA bought a new stake in shares of Chewy during the fourth quarter worth approximately $30,000. Fifth Third Bancorp grew its holdings in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after acquiring an additional 444 shares during the period. Blue Trust Inc. raised its position in shares of Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after acquiring an additional 320 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Chewy in the 3rd quarter valued at $63,000. Finally, Gordian Capital Singapore Pte Ltd bought a new position in shares of Chewy in the 4th quarter worth $67,000. Institutional investors own 93.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CHWY shares. Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. The Goldman Sachs Group increased their price target on shares of Chewy from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Citigroup increased their target price on Chewy from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Finally, Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $34.00 to $47.00 in a research note on Monday, January 13th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chewy currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.68.

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.