Chewy, Inc. (NYSE:CHWY) CEO Sells $318,877.12 in Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the sale, the chief executive officer now owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Chewy Stock Performance

Shares of CHWY opened at $23.71 on Friday. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The business has a 50-day moving average of $24.70 and a 200 day moving average of $19.64. The firm has a market cap of $10.31 billion, a P/E ratio of 131.72, a price-to-earnings-growth ratio of 3.48 and a beta of 1.03.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.11. Chewy had a net margin of 0.73% and a return on equity of 16.62%. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.85 billion. As a group, research analysts predict that Chewy, Inc. will post 0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. 1620 Investment Advisors Inc. bought a new position in shares of Chewy in the second quarter worth $33,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Chewy during the 2nd quarter valued at $44,000. First Horizon Advisors Inc. purchased a new stake in Chewy during the 2nd quarter worth about $48,000. Skylands Capital LLC bought a new position in Chewy in the 2nd quarter worth about $52,000. Finally, Quest Partners LLC purchased a new position in Chewy during the 4th quarter valued at about $65,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CHWY. Raymond James increased their price objective on Chewy from $19.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Morgan Stanley increased their price target on Chewy from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Needham & Company LLC lifted their price objective on shares of Chewy from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Guggenheim increased their target price on shares of Chewy from $25.00 to $32.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Chewy from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Chewy has an average rating of “Moderate Buy” and an average price target of $27.07.

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.