Chewy, Inc. (NYSE:CHWY) CEO Sells $505,873.60 in Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 13,472 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $37.55, for a total transaction of $505,873.60. Following the completion of the transaction, the chief executive officer now directly owns 505,109 shares in the company, valued at $18,966,842.95. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, January 17th, Sumit Singh sold 4,000 shares of Chewy stock. The stock was sold at an average price of $37.52, for a total transaction of $150,080.00.
• On Wednesday, January 15th, Sumit Singh sold 114,130 shares of Chewy stock. The stock was 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 shares were sold at an average price of $37.62, for a total value 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 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 shares were sold at an average price of $32.50, for a total value of $2,312,732.50.

Chewy Stock Performance

NYSE:CHWY opened at $39.25 on Friday. The firm has a market cap of $15.98 billion, a PE ratio of 43.13, a price-to-earnings-growth ratio of 4.16 and a beta of 1.10. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $39.60. The business has a 50 day moving average price of $34.48 and a 200-day moving average price of $30.05.

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

Analysts Set New Price Targets

CHWY has been the topic of several analyst reports. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and upped their price target for the company from $24.00 to $42.00 in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. UBS Group upped their price objective 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. Robert W. Baird upped their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Finally, Argus upgraded shares of Chewy from a “hold” rating to a “buy” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.80.

Institutional Trading of Chewy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHWY. FMR LLC lifted its stake in Chewy by 166.8% in 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 purchased a new stake in Chewy in the second quarter worth $40,798,000. Eagle Asset Management Inc. raised its holdings in Chewy by 97.9% in the third 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. AMI Asset Management Corp bought a new position in Chewy in the third quarter worth $17,756,000. Finally, Quadrature Capital Ltd bought a new position in Chewy in the third quarter worth $13,699,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

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.