Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh Sells 4,000 Shares

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 4,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $37.52, for a total value of $150,080.00. Following the completion of the sale, the chief executive officer now directly owns 518,581 shares in the company, valued at approximately $19,457,159.12. This represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, January 15th, Sumit Singh sold 114,130 shares of Chewy stock. The shares were sold at an average price of $37.70, for a total transaction of $4,302,701.00.
• On Monday, January 6th, Sumit Singh sold 63,187 shares of Chewy stock. The stock was 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 shares were sold at an average price of $35.68, for a total transaction 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 value 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 Stock Performance

Shares of NYSE:CHWY opened at $37.15 on Wednesday. The company has a 50 day moving average price of $34.04 and a two-hundred day moving average price of $29.75. The company has a market capitalization of $15.13 billion, a PE ratio of 40.82, a PEG ratio of 4.14 and a beta of 1.10. 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 data on Wednesday, December 4th. The company reported $0.20 EPS 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 quarter in the prior year, the company earned ($0.08) EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

CHWY has been the topic of several research analyst reports. Morgan Stanley increased their target price on Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Evercore ISI upgraded shares of Chewy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $34.00 to $47.00 in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their target price on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. Finally, Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Hedge Funds Weigh In On Chewy

Several institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP lifted its stake in Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after buying an additional 2,636,526 shares in the last quarter. FMR LLC raised its holdings in shares of Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after acquiring an additional 2,497,689 shares during the period. Clearbridge Investments LLC bought a new stake in Chewy in the 2nd quarter valued at $40,798,000. Eagle Asset Management Inc. increased 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 in the last quarter. Finally, Davidson Kempner Capital Management LP acquired a new stake in shares of Chewy in the 2nd quarter valued at about $18,759,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.