Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 63,187 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 63,187 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $37.62, for a total transaction of $2,377,094.94. Following the sale, the chief executive officer now owns 643,939 shares of the company’s stock, valued at $24,224,985.18. This trade represents a 8.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 value 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 stock was sold at an average price of $35.00, for a total transaction 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 Trading Up 1.2 %

NYSE:CHWY traded up $0.42 on Wednesday, reaching $36.19. 5,875,825 shares of the stock traded hands, compared to its average volume of 7,805,092. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10. The company’s 50 day moving average is $32.73 and its 200-day moving average is $29.13. The firm has a market capitalization of $14.74 billion, a price-to-earnings ratio of 39.77, a price-to-earnings-growth ratio of 4.28 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 for the quarter, topping 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 business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter last year, the firm earned ($0.08) earnings per share. Chewy’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities research analysts forecast that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Chewy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its position in Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after buying an additional 905 shares in the last quarter. Planning Capital Management Corp acquired a new stake in Chewy in the third quarter valued at approximately $52,000. Future Financial Wealth Managment LLC bought a new stake in shares of Chewy during the third quarter valued at approximately $62,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Chewy during the third quarter worth approximately $63,000. Finally, Castleview Partners LLC bought a new position in shares of Chewy in the 3rd quarter worth $76,000. 93.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley lifted their price objective on Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, November 25th. TD Cowen began coverage on Chewy in a research note on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price target for the company. Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. JMP Securities restated a “market outperform” rating and issued a $37.00 target price on shares of Chewy in a research report on Monday, December 16th. Finally, Barclays increased their price target on shares of Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.70.

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.