Chewy, Inc. (NYSE:CHWY) CEO Sells $2,377,094.94 in Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 63,187 shares of Chewy stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $37.62, for a total value of $2,377,094.94. Following the completion of the transaction, the chief executive officer now owns 643,939 shares of the company’s stock, valued at approximately $24,224,985.18. This represents a 8.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were 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 transaction of $2,312,732.50.

Chewy Trading Up 0.4 %

NYSE CHWY opened at $36.34 on Friday. The stock has a fifty day simple moving average of $33.29 and a 200-day simple moving average of $29.29. The stock has a market cap of $14.80 billion, a PE ratio of 39.93, a P/E/G ratio of 4.28 and a beta of 1.10. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Chewy in the second quarter valued at $11,916,000. Sanctuary Advisors LLC purchased a new position in Chewy during the 2nd quarter valued at about $673,000. Eagle Asset Management Inc. grew its position in Chewy by 97.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after acquiring an additional 975,647 shares in the last quarter. Marshall Wace LLP increased its stake in 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 purchasing an additional 2,636,526 shares during the period. Finally, Centiva Capital LP acquired a new stake in shares of Chewy during the third quarter worth about $2,949,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHWY has been the topic of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Morgan Stanley lifted their price target on Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Piper Sandler increased their price objective on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Finally, Wedbush reiterated an “outperform” rating and issued a $39.00 target price (up from $35.00) on shares of Chewy in a research report on Thursday, December 5th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chewy currently has an average 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.