Chewy, Inc. (NYSE:CHWY) CTO Sells $3,345,560.00 in Stock

Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta sold 83,639 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $3,345,560.00. Following the transaction, the chief technology officer now owns 334,218 shares in the company, valued at $13,368,720. The trade was a 20.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Satish Mehta also recently made the following trade(s):

• On Monday, January 13th, Satish Mehta sold 168,105 shares of Chewy stock. The shares were sold at an average price of $36.32, for a total transaction of $6,105,573.60.
• On Monday, December 2nd, Satish Mehta sold 8,056 shares of Chewy stock. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32.

Chewy Price Performance

Shares of NYSE CHWY opened at $38.95 on Monday. The company has a 50 day simple moving average of $34.99 and a 200 day simple moving average of $30.52. The firm has a market cap of $15.86 billion, a PE ratio of 42.80, a price-to-earnings-growth ratio of 4.36 and a beta of 1.10. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.09.

Chewy (NYSE:CHWY) last issued its quarterly earnings data 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. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) EPS. As a group, research analysts anticipate that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CHWY has been the subject of a number of analyst reports. UBS Group lifted their price target on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Robert W. Baird upped their target price on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Piper Sandler increased their target price on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. BNP Paribas downgraded Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $37.00 price objective on shares of Chewy in a research report on Monday, December 16th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CHWY. FMR LLC raised its holdings in Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after buying an additional 2,497,689 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in Chewy during the 2nd quarter valued at approximately $40,798,000. Eagle Asset Management Inc. increased its position in Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after purchasing an additional 975,647 shares during the period. AMI Asset Management Corp acquired a new stake in Chewy during the 3rd quarter valued at approximately $17,756,000. Finally, Quadrature Capital Ltd acquired a new stake in Chewy during the 3rd quarter valued at approximately $13,699,000. Institutional investors own 93.09% of the company’s stock.

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.