Chewy, Inc. (NYSE:CHWY) CTO Sells $121,247.28 in Stock

Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta sold 8,019 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $121,247.28. Following the sale, the chief technology officer now owns 569,594 shares in the company, valued at approximately $8,612,261.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Chewy Stock Up 0.4 %

Shares of NYSE CHWY traded up $0.07 during mid-day trading on Monday, reaching $15.98. 4,595,151 shares of the company were exchanged, compared to its average volume of 8,769,308. The firm has a 50-day moving average of $16.62 and a 200 day moving average of $18.52. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.78. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 198.90, a P/E/G ratio of 8.28 and a beta of 0.91.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Chewy had a return on equity of 11.69% and a net margin of 0.33%. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. On average, equities analysts forecast that Chewy, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CHWY. JMP Securities restated a “market outperform” rating and set a $28.00 price target on shares of Chewy in a report on Friday, March 15th. Wedbush reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Chewy in a research report on Thursday, March 21st. Mizuho initiated coverage on Chewy in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Chewy from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Chewy in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

Institutional Investors Weigh In On Chewy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in Chewy by 15.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock worth $95,000 after acquiring an additional 543 shares during the period. IFM Investors Pty Ltd grew its holdings in Chewy by 5.7% during the third quarter. IFM Investors Pty Ltd now owns 13,371 shares of the company’s stock worth $244,000 after acquiring an additional 723 shares during the period. D.A. Davidson & CO. grew its holdings in Chewy by 3.8% during the third quarter. D.A. Davidson & CO. now owns 22,663 shares of the company’s stock worth $414,000 after acquiring an additional 840 shares during the period. Private Advisor Group LLC grew its holdings in Chewy by 7.9% during the third quarter. Private Advisor Group LLC now owns 11,984 shares of the company’s stock worth $219,000 after acquiring an additional 875 shares during the period. Finally, Signaturefd LLC grew its holdings in Chewy by 37.8% during the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after acquiring an additional 922 shares during the period. 93.09% of the stock is currently owned by hedge funds and other 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.