Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 13,472 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 13,472 shares of Chewy stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $37.55, for a total value of $505,873.60. Following the transaction, the chief executive officer now owns 505,109 shares in the company, valued at $18,966,842.95. This represents a 2.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, January 17th, Sumit Singh sold 4,000 shares of Chewy stock. The stock was sold at an average price of $37.52, for a total value of $150,080.00.
• 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 shares were 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 shares were 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 stock was 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 stock was sold at an average price of $35.00, for a total transaction of $2,490,635.00.
• On Thursday, December 19th, Sumit Singh sold 71,161 shares of Chewy stock. The shares were sold at an average price of $32.50, for a total transaction of $2,312,732.50.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $39.25 on Friday. The business has a fifty day moving average of $34.33 and a 200-day moving average of $29.95. The firm has a market cap of $15.98 billion, a PE ratio of 43.13, 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 $39.60.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Fifth Third Bancorp raised its stake in shares of Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after buying an additional 444 shares during the last quarter. Blue Trust Inc. grew its holdings in Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares during the period. Planning Capital Management Corp bought a new stake in shares of Chewy during the 3rd quarter valued at $52,000. Future Financial Wealth Managment LLC acquired a new position in shares of Chewy in the 3rd quarter valued at $62,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Chewy in the 3rd quarter worth $63,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CHWY. The Goldman Sachs Group boosted their price target on Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Piper Sandler boosted their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. Finally, UBS Group boosted their price objective on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

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.