Chewy, Inc. (NYSE:CHWY) CEO Sells $4,302,701.00 in Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 114,130 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $37.70, for a total value of $4,302,701.00. Following the completion of the transaction, the chief executive officer now owns 529,809 shares of the company’s stock, valued at $19,973,799.30. This represents a 17.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 transaction of $2,377,094.94.
• On Friday, January 3rd, Sumit Singh sold 191,096 shares of Chewy stock. The stock was 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 stock was sold at an average price of $34.52, for a total transaction of $19,742,091.56.
• On Tuesday, December 24th, Sumit Singh sold 71,161 shares of Chewy stock. The shares were 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 stock was sold at an average price of $32.50, for a total value of $2,312,732.50.

Chewy Trading Down 0.8 %

Shares of NYSE CHWY opened at $36.99 on Monday. The business’s 50 day moving average is $33.97 and its 200-day moving average is $29.62. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10. The firm has a market cap of $15.06 billion, a P/E ratio of 40.64, a price-to-earnings-growth ratio of 4.06 and a beta of 1.10.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (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 company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Chewy’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts forecast that Chewy, Inc. will post 0.24 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CHWY. Wealth Enhancement Advisory Services LLC lifted its position in Chewy by 1.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock worth $661,000 after purchasing an additional 301 shares during the period. Blue Trust Inc. lifted its holdings in shares of Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares during the period. Washington Trust Advisors Inc. boosted its position in shares of Chewy by 0.3% during the 3rd quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock worth $8,156,000 after acquiring an additional 923 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Chewy by 10.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock valued at $308,000 after acquiring an additional 1,029 shares during the last quarter. Finally, D.A. Davidson & CO. increased its stake in Chewy by 5.0% in the third quarter. D.A. Davidson & CO. now owns 26,219 shares of the company’s stock valued at $768,000 after acquiring an additional 1,244 shares during the last quarter. 93.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on CHWY shares. Wolfe Research upgraded Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $24.00 to $42.00 in a report on Monday, January 6th. The Goldman Sachs Group lifted their price target on shares of Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Royal Bank of Canada increased their price objective on shares of Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Finally, Morgan Stanley lifted their target price on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.80.

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.