Chewy, Inc. (NYSE:CHWY) CEO Sells $4,302,701.00 in Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 114,130 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $37.70, for a total value of $4,302,701.00. Following the sale, the chief executive officer now owns 529,809 shares in the company, valued at approximately $19,973,799.30. This represents a 17.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 value 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 value of $6,818,305.28.
• On Thursday, December 26th, Sumit Singh sold 571,903 shares of Chewy stock. The shares were sold at an average price of $34.52, for a total value of $19,742,091.56.
• On Tuesday, December 24th, Sumit Singh sold 71,161 shares of Chewy stock. The shares were 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 Price Performance

Shares of CHWY opened at $36.99 on Friday. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10. The company has a market capitalization of $15.06 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 4.06 and a beta of 1.10. The business has a 50-day moving average of $33.97 and a 200-day moving average of $29.59.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.86 billion. During the same period last year, the company earned ($0.08) earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chewy, Inc. will post 0.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CHWY. Royal Bank of Canada increased 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. Barclays increased their price objective on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a report on Thursday, December 5th. JMP Securities reissued a “market outperform” rating and set a $37.00 target price on shares of Chewy in a report on Monday, December 16th. Finally, Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.80.

Institutional Investors Weigh In On Chewy

A number of hedge funds have recently added to or reduced their stakes in the business. BC Partners Advisors L.P. bought a new stake in Chewy in the second quarter worth approximately $7,517,800,000. FMR LLC increased its holdings in Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after purchasing an additional 2,497,689 shares in the last quarter. Marshall Wace LLP increased its holdings 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 in the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in Chewy by 5.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock worth $81,014,000 after purchasing an additional 138,768 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in Chewy by 97.9% in the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors.

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.