Insider Selling: Chewy, Inc. (NYSE:CHWY) CFO Sells $11,527,273.84 in Stock

Chewy, Inc. (NYSE:CHWY) CFO David Reeder sold 307,558 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $37.48, for a total transaction of $11,527,273.84. Following the completion of the sale, the chief financial officer now owns 546,257 shares of the company’s stock, valued at approximately $20,473,712.36. The trade was a 36.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Chewy Trading Up 1.0 %

Chewy stock opened at $37.93 on Friday. The firm has a market capitalization of $15.44 billion, a price-to-earnings ratio of 41.68, a P/E/G ratio of 2.32 and a beta of 1.10. The firm has a 50 day simple moving average of $35.67 and a 200 day simple moving average of $31.23. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.86 billion. During the same period in the previous year, the company posted ($0.08) EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts forecast that Chewy, Inc. will post 0.24 EPS for the current year.

Institutional Investors Weigh In On Chewy

A number of institutional investors and hedge funds have recently modified their holdings of CHWY. Fifth Third Bancorp increased its holdings in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after acquiring an additional 444 shares during the period. Blue Trust Inc. grew its position in shares of Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after purchasing an additional 905 shares in the last quarter. Planning Capital Management Corp purchased a new position in shares of Chewy during the 3rd quarter valued at $52,000. Wilmington Savings Fund Society FSB bought a new position in shares of Chewy in the third quarter worth $63,000. Finally, Allworth Financial LP raised its position in shares of Chewy by 52.0% in the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after buying an additional 650 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CHWY shares. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $24.00 to $40.00 in a research report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Argus raised Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada boosted their price objective on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Finally, Robert W. Baird raised their target price on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.80.

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.