Sumit Singh Sells 63,187 Shares of Chewy, Inc. (NYSE:CHWY) Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 63,187 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $37.62, for a total value of $2,377,094.94. Following the sale, the chief executive officer now owns 643,939 shares in the company, valued at $24,224,985.18. The trade was a 8.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, January 3rd, Sumit Singh sold 191,096 shares of Chewy stock. The stock was sold at an average price of $35.68, for a total transaction of $6,818,305.28.
• On Thursday, December 26th, Sumit Singh sold 571,903 shares of Chewy stock. The stock was 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 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 Trading Up 1.2 %

NYSE CHWY opened at $36.19 on Thursday. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10. The stock has a 50 day moving average of $32.92 and a 200-day moving average of $29.18. The company has a market cap of $14.74 billion, a PE ratio of 39.77, a PEG ratio of 4.28 and a beta of 1.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. Chewy’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.08) earnings per share. As a group, sell-side analysts predict that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CHWY shares. UBS Group increased their price target on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Piper Sandler boosted their target price on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. increased their price target on shares of Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $37.00 target price on shares of Chewy in a research note on Monday, December 16th. Finally, Wolfe Research raised shares of Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.70.

Hedge Funds Weigh In On Chewy

Large investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC lifted its stake in Chewy by 20.3% during the second quarter. Commonwealth Equity Services LLC now owns 48,704 shares of the company’s stock worth $1,327,000 after purchasing an additional 8,228 shares during the last quarter. Arizona State Retirement System boosted its stake in Chewy by 15.3% in the second quarter. Arizona State Retirement System now owns 38,087 shares of the company’s stock valued at $1,037,000 after buying an additional 5,048 shares in the last quarter. PFG Investments LLC grew its position in Chewy by 22.4% in the second quarter. PFG Investments LLC now owns 13,189 shares of the company’s stock valued at $359,000 after acquiring an additional 2,416 shares during the last quarter. Choreo LLC bought a new position in shares of Chewy in the second quarter worth about $205,000. Finally, Malaga Cove Capital LLC boosted its stake in shares of Chewy by 18.9% in the 2nd quarter. Malaga Cove Capital LLC now owns 53,766 shares of the company’s stock valued at $1,465,000 after purchasing an additional 8,534 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

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.