Insider Selling: Chewy, Inc. (NYSE:CHWY) Major Shareholder Sells 19,827,242 Shares of Stock

Chewy, Inc. (NYSE:CHWY) major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total value of $620,989,219.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Argos Holdings Gp Llc also recently made the following trade(s):

• On Tuesday, October 15th, Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00.
• On Monday, September 23rd, Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20.

Chewy Stock Up 1.2 %

CHWY opened at $32.26 on Friday. The firm’s fifty day simple moving average is $30.73 and its two-hundred day simple moving average is $27.70. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $39.10. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 35.45, a PEG ratio of 4.28 and a beta of 1.12.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating 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 firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the prior year, the firm posted ($0.08) earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts forecast that Chewy, Inc. will post 0.24 EPS for the current year.

Hedge Funds Weigh In On Chewy

A number of institutional investors have recently modified their holdings of CHWY. Blue Trust Inc. raised its stake in Chewy by 183.6% during 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. Washington Trust Advisors Inc. lifted its stake in Chewy by 0.3% during the third quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock worth $8,156,000 after purchasing an additional 923 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Chewy by 10.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock worth $308,000 after purchasing an additional 1,029 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Chewy during the second quarter worth $33,000. Finally, D.A. Davidson & CO. lifted its position in shares of Chewy by 5.0% in the 3rd quarter. D.A. Davidson & CO. now owns 26,219 shares of the company’s stock worth $768,000 after buying an additional 1,244 shares during the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHWY has been the topic of several analyst reports. Piper Sandler increased their target price on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. BNP Paribas downgraded shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $24.00 to $40.00 in a research note on Wednesday, November 20th. The Goldman Sachs Group upped their price target on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada raised their price objective on Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.15.

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.