Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells $150,080.00 in Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 4,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $37.52, for a total transaction of $150,080.00. Following the completion of the sale, the chief executive officer now owns 518,581 shares in the company, valued at approximately $19,457,159.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, January 15th, Sumit Singh sold 114,130 shares of Chewy stock. The stock was 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.
• 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 transaction of $19,742,091.56.
• On Tuesday, December 24th, Sumit Singh sold 71,161 shares of Chewy stock. The stock was sold at an average price of $35.00, for a total value of $2,490,635.00.
• On Thursday, December 19th, Sumit Singh sold 71,161 shares of Chewy stock. The stock was sold at an average price of $32.50, for a total value of $2,312,732.50.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $37.99 on Friday. The business has a fifty day moving average of $34.22 and a 200-day moving average of $29.89. The firm has a market cap of $15.47 billion, a PE ratio of 41.75, a price-to-earnings-growth ratio of 4.16 and a beta of 1.10. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10.

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

Analyst Ratings Changes

CHWY has been the subject of several research reports. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Wedbush reaffirmed an “outperform” rating and issued a $39.00 target price (up from $35.00) on shares of Chewy in a research report on Thursday, December 5th. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $47.00 in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised their target price on Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley lifted their price objective on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chewy has an average rating of “Moderate Buy” and a consensus price target of $36.80.

Institutional Trading of Chewy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHWY. Marshall Wace LLP increased its position in Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after purchasing an additional 2,636,526 shares during the period. FMR LLC grew its position in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after buying an additional 2,497,689 shares during the period. Clearbridge Investments LLC acquired a new position in shares of Chewy during the 2nd quarter worth about $40,798,000. Eagle Asset Management Inc. grew its position in shares of Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after buying an additional 975,647 shares during the period. Finally, Davidson Kempner Capital Management LP acquired a new position in shares of Chewy during the 2nd quarter worth about $18,759,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.