Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells $19,742,091.56 in Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 571,903 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $34.52, for a total value of $19,742,091.56. Following the sale, the chief executive officer now directly owns 898,222 shares in the company, valued at $31,006,623.44. The trade was a 38.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 $33.49 on Thursday. The company has a fifty day moving average of $32.02 and a 200-day moving average of $28.81. The company has a market capitalization of $13.64 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 4.28 and a beta of 1.12. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $39.10.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CHWY shares. Deutsche Bank Aktiengesellschaft increased their target price on Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Morgan Stanley raised their price objective on shares of Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. raised their price objective on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $28.00 to $40.00 in a research report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Chewy currently has an average rating of “Moderate Buy” and a consensus price target of $34.60.

Institutional Trading of Chewy

A number of institutional investors and hedge funds have recently bought and sold shares of CHWY. Blue Trust Inc. increased its holdings in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after purchasing an additional 905 shares during the period. Planning Capital Management Corp acquired a new stake in Chewy in the third quarter valued at $52,000. Future Financial Wealth Managment LLC acquired a new stake in Chewy in the third quarter valued at $62,000. Wilmington Savings Fund Society FSB acquired a new stake in Chewy in the third quarter valued at $63,000. Finally, Castleview Partners LLC acquired a new stake in Chewy in the third quarter valued at $76,000. 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.