Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 71,161 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 71,161 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $35.00, for a total value of $2,490,635.00. Following the completion of the transaction, the chief executive officer now directly owns 6,677 shares of the company’s stock, valued at approximately $233,695. The trade was a 91.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• 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 Trading Up 0.1 %

Shares of NYSE:CHWY opened at $34.07 on Friday. The company has a market capitalization of $13.87 billion, a PE ratio of 37.44, a PEG ratio of 4.28 and a beta of 1.12. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.10. The business has a 50 day moving average of $31.66 and a two-hundred day moving average of $28.58.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the prior year, the firm posted ($0.08) earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities research analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chewy

Several institutional investors and hedge funds have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Chewy in the second quarter valued at approximately $11,916,000. Sanctuary Advisors LLC purchased a new stake in Chewy in the 2nd quarter worth $673,000. Eagle Asset Management Inc. raised its position in Chewy by 97.9% during the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after acquiring an additional 975,647 shares during the period. Marshall Wace LLP lifted its holdings in Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after purchasing an additional 2,636,526 shares in the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of Chewy in the third quarter valued at about $2,949,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CHWY. Royal Bank of Canada lifted their price objective on shares of Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $28.00 to $40.00 in a report on Friday, November 8th. Barclays boosted their target price on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. increased their price target on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.60.

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.