Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh Sells 191,096 Shares

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 191,096 shares of Chewy stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.68, for a total value of $6,818,305.28. Following the sale, the chief executive officer now owns 707,126 shares of the company’s stock, valued at approximately $25,230,255.68. This represents a 21.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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 transaction 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 transaction 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 transaction of $2,312,732.50.

Chewy Price Performance

NYSE:CHWY traded down $1.22 during trading hours on Tuesday, reaching $35.85. 9,872,445 shares of the stock were exchanged, compared to its average volume of 8,271,520. The firm has a 50 day moving average of $32.54 and a 200 day moving average of $29.06. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10. The stock has a market cap of $14.60 billion, a PE ratio of 39.40, a PEG ratio of 4.28 and a beta of 1.10.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. Equities research analysts anticipate that Chewy, Inc. will post 0.24 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its stake in Chewy by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 531,709 shares of the company’s stock valued at $15,574,000 after purchasing an additional 3,814 shares during the period. Castellan Group acquired a new stake in Chewy during the third quarter worth approximately $5,282,000. Wilmington Savings Fund Society FSB acquired a new position in Chewy in the 3rd quarter valued at $63,000. Virtu Financial LLC bought a new stake in shares of Chewy during the 3rd quarter valued at $795,000. Finally, Geode Capital Management LLC increased its position in shares of Chewy by 8.4% in the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after purchasing an additional 119,633 shares during the period. 93.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CHWY has been the subject of a number of research reports. BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lifted 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. JPMorgan Chase & Co. lifted their price target on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday. Finally, Morgan Stanley raised their target price on Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.70.

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.