Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells $6,818,305.28 in Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 191,096 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.68, for a total value of $6,818,305.28. Following the completion of the sale, the chief executive officer now owns 707,126 shares of the company’s stock, valued at approximately $25,230,255.68. The trade was a 21.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 value of $2,377,094.94.
• 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 transaction 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 stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50.

Chewy Stock Up 1.2 %

CHWY stock opened at $36.19 on Friday. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10. The stock has a market capitalization of $14.74 billion, a price-to-earnings ratio of 39.77, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10. The firm’s fifty day simple moving average is $33.10 and its two-hundred day simple moving average is $29.23.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the prior year, the firm posted ($0.08) EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Chewy, Inc. will post 0.24 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays boosted their price objective on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. UBS Group upped their price target on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $24.00 to $42.00 in a research report on Monday. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada raised their target price on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.70.

Hedge Funds Weigh In On Chewy

Large investors have recently bought and sold shares of the business. Blue Trust Inc. increased its stake in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares during the period. Planning Capital Management Corp bought a new position in shares of Chewy in the third quarter worth about $52,000. Future Financial Wealth Managment LLC purchased a new position in Chewy in the 3rd quarter worth about $62,000. Wilmington Savings Fund Society FSB bought a new stake in Chewy during the 3rd quarter valued at about $63,000. Finally, Castleview Partners LLC purchased a new stake in Chewy in the 3rd quarter valued at about $76,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

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.