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 company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $37.70, for a total transaction of $4,302,701.00. Following the sale, the chief executive officer now directly owns 529,809 shares of the company’s stock, valued at approximately $19,973,799.30. This represents a 17.72 % decrease in their ownership of the stock. The transaction 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 value of $6,818,305.28.
• On Thursday, December 26th, Sumit Singh sold 571,903 shares of Chewy stock. The shares were sold at an average price of $34.52, for a total value 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 transaction of $2,312,732.50.

Chewy Stock Performance

Shares of CHWY opened at $36.99 on Monday. The company has a market cap of $15.06 billion, a price-to-earnings ratio of 40.64, a PEG ratio of 4.06 and a beta of 1.10. The stock has a fifty day moving average price of $33.97 and a two-hundred day moving average price of $29.62. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $39.10.

Chewy (NYSE:CHWY) last released its quarterly 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 return on equity of 24.47% and a net margin of 3.51%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the previous year, the business posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts predict that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Institutional Trading of Chewy

Several hedge funds have recently modified their holdings of CHWY. BC Partners Advisors L.P. acquired a new position in Chewy during the 2nd quarter worth $7,517,800,000. Marshall Wace LLP raised its position in shares of Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after acquiring an additional 2,636,526 shares during the last quarter. FMR LLC boosted its holdings in Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after acquiring an additional 2,497,689 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in Chewy in the second quarter worth about $40,798,000. Finally, Eagle Asset Management Inc. raised its holdings in Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares during the last quarter. 93.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CHWY has been the topic of several research analyst reports. Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $28.00 to $40.00 in a research report on Friday, November 8th. The Goldman Sachs Group boosted their price target on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. Royal Bank of Canada lifted their price objective on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Finally, Morgan Stanley upped their target price on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.80.

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.