Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta Sells 71,365 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta sold 71,365 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the transaction, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at approximately $9,357,566.80. This trade represents a 21.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Satish Mehta also recently made the following trade(s):

• On Thursday, January 30th, Satish Mehta sold 83,639 shares of Chewy stock. The stock was sold at an average price of $40.00, for a total transaction of $3,345,560.00.
• On Monday, January 13th, Satish Mehta sold 168,105 shares of Chewy stock. The stock was sold at an average price of $36.32, for a total transaction of $6,105,573.60.

Chewy Stock Down 4.7 %

Shares of NYSE:CHWY opened at $31.76 on Tuesday. The firm’s 50 day moving average price is $36.71 and its 200 day moving average price is $32.69. The stock has a market cap of $12.93 billion, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $40.09.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CHWY shares. Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Guggenheim set a $42.00 target price on shares of Chewy and gave the stock a “buy” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group increased their price target on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. UBS Group increased their price target on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.30.

Hedge Funds Weigh In On Chewy

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after purchasing an additional 3,493,926 shares during the last quarter. FMR LLC increased its stake in Chewy by 32.4% in the fourth quarter. FMR LLC now owns 5,288,757 shares of the company’s stock valued at $177,120,000 after purchasing an additional 1,293,428 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Chewy by 9.8% in the fourth quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock valued at $150,345,000 after purchasing an additional 399,330 shares during the last quarter. Clearbridge Investments LLC increased its stake in Chewy by 47.4% in the fourth quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company’s stock valued at $129,495,000 after purchasing an additional 1,243,981 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its stake in Chewy by 5.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock valued at $81,014,000 after purchasing an additional 138,768 shares during the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

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.