Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 71,161 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 71,161 shares of Chewy stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $35.00, for a total value of $2,490,635.00. Following the transaction, the chief executive officer now owns 6,677 shares of the company’s stock, valued at $233,695. The trade was a 91.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 value of $2,312,732.50.

Chewy Trading Up 0.1 %

NYSE:CHWY opened at $34.07 on Friday. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10. The stock has a 50 day moving average of $31.66 and a two-hundred day moving average of $28.54. The firm has a market cap of $13.87 billion, a P/E ratio of 37.44, a price-to-earnings-growth ratio of 4.28 and a beta of 1.12.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in shares of 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 purchasing an additional 905 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings in shares of Chewy by 0.3% during the 3rd 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 shares of Chewy by 10.0% during the 2nd 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 last quarter. D.A. Davidson & CO. boosted its holdings in shares of Chewy by 5.0% during the 3rd quarter. D.A. Davidson & CO. now owns 26,219 shares of the company’s stock worth $768,000 after purchasing an additional 1,244 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. acquired a new position in shares of Chewy during the 2nd quarter worth approximately $44,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CHWY shares. Piper Sandler lifted their price objective on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. JMP Securities restated a “market outperform” rating and issued a $37.00 price target on shares of Chewy in a research note on Monday, December 16th. Barclays lifted their price target on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.60.

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.