Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 8,552 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 8,552 shares of Chewy stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total value of $285,209.20. Following the completion of the transaction, the chief executive officer now owns 62,096 shares of the company’s stock, valued at approximately $2,070,901.60. This represents a 12.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, February 5th, Sumit Singh sold 57,432 shares of Chewy stock. The shares were sold at an average price of $37.90, for a total value of $2,176,672.80.
• On Thursday, January 30th, Sumit Singh sold 9,285 shares of Chewy stock. The shares were sold at an average price of $40.00, for a total value of $371,400.00.
• On Wednesday, January 22nd, Sumit Singh sold 13,472 shares of Chewy stock. The stock was sold at an average price of $37.55, for a total transaction of $505,873.60.
• On Friday, January 17th, Sumit Singh sold 4,000 shares of Chewy stock. The shares were sold at an average price of $37.52, for a total transaction of $150,080.00.
• On Wednesday, January 15th, Sumit Singh sold 114,130 shares of Chewy stock. The shares were sold at an average price of $37.70, for a total transaction of $4,302,701.00.
• On Monday, January 6th, Sumit Singh sold 63,187 shares of Chewy stock. The stock was sold at an average price of $37.62, for a total transaction of $2,377,094.94.

Chewy Stock Performance

CHWY stock opened at $31.48 on Friday. The firm has a 50-day simple moving average of $35.43 and a two-hundred day simple moving average of $33.25. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.21 and a beta of 1.68.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the prior year, the company posted $0.07 earnings per share. Chewy’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, equities analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays raised their price target on Chewy from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Wolfe Research raised shares of Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research note on Thursday, March 27th. Wedbush reissued an “outperform” rating and issued a $39.00 price objective on shares of Chewy in a research report on Thursday, March 27th. Finally, Morgan Stanley raised their target price on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.68.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock worth $485,093,000 after acquiring an additional 3,493,926 shares in the last quarter. Durable Capital Partners LP acquired a new stake in Chewy in the 4th quarter worth approximately $79,050,000. Invesco Ltd. grew its position in Chewy by 4,577.5% during the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock worth $73,381,000 after purchasing an additional 2,144,302 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Chewy during the 4th quarter valued at approximately $69,789,000. Finally, Alyeska Investment Group L.P. increased its stake in Chewy by 6,336.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,609,149 shares of the company’s stock valued at $53,890,000 after purchasing an additional 1,584,149 shares in the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

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.