Insider Selling: Chewy, Inc. (NYSE:CHWY) CTO Sells 2,894 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta sold 2,894 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $64,362.56. Following the completion of the sale, the chief technology officer now directly owns 573,463 shares of the company’s stock, valued at approximately $12,753,817.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Chewy Price Performance

Shares of NYSE CHWY traded up $0.48 during mid-day trading on Tuesday, hitting $22.84. The company had a trading volume of 4,323,966 shares, compared to its average volume of 10,067,577. The company has a market capitalization of $9.93 billion, a PE ratio of 126.86, a price-to-earnings-growth ratio of 3.48 and a beta of 1.03. The business’s 50-day simple moving average is $24.53 and its 200 day simple moving average is $19.57. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. Chewy had a return on equity of 16.62% and a net margin of 0.73%. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.85 billion. On average, analysts expect that Chewy, Inc. will post 0.23 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHWY. Arizona State Retirement System raised its holdings in shares of Chewy by 5.0% in the 4th quarter. Arizona State Retirement System now owns 33,305 shares of the company’s stock valued at $787,000 after purchasing an additional 1,593 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Chewy in the fourth quarter valued at $13,610,000. DekaBank Deutsche Girozentrale raised its stake in Chewy by 347.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 79,265 shares of the company’s stock valued at $1,909,000 after buying an additional 61,556 shares in the last quarter. HBK Sorce Advisory LLC purchased a new stake in Chewy during the 4th quarter worth about $216,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Chewy by 15.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock worth $95,000 after acquiring an additional 543 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CHWY shares. Argus cut Chewy from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Needham & Company LLC upped their price target on Chewy from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. UBS Group raised their price objective on Chewy from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Chewy from $18.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Finally, Wolfe Research initiated coverage on shares of Chewy in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.07.

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.