Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh Sells 571,903 Shares

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 571,903 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $34.52, for a total value of $19,742,091.56. Following the completion of the sale, the chief executive officer now directly owns 898,222 shares of the company’s stock, valued at $31,006,623.44. This represents a 38.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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 Price Performance

NYSE:CHWY traded up $0.14 during mid-day trading on Monday, reaching $34.21. The stock had a trading volume of 3,489,564 shares, compared to its average volume of 8,463,065. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 4.28 and a beta of 1.12. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10. The stock’s 50 day simple moving average is $31.66 and its two-hundred day simple moving average is $28.62.

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

Wall Street Analysts Forecast Growth

CHWY has been the subject of a number of research reports. Barclays lifted their price target on shares of Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Morgan Stanley lifted their price objective on Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a report on Thursday, December 5th. BNP Paribas downgraded Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Finally, TD Cowen began coverage on shares of Chewy in a research note on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. lifted its holdings in Chewy by 0.7% in the third quarter. Principal Financial Group Inc. now owns 531,709 shares of the company’s stock worth $15,574,000 after acquiring an additional 3,814 shares during the last quarter. Castellan Group bought a new stake in shares of Chewy in the 3rd quarter worth approximately $5,282,000. Wilmington Savings Fund Society FSB acquired a new position in Chewy during the 3rd quarter valued at approximately $63,000. Virtu Financial LLC bought a new position in Chewy during the 3rd quarter worth $795,000. Finally, Geode Capital Management LLC increased its position in Chewy by 8.4% in the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after buying an additional 119,633 shares during the period. 93.09% of the stock is owned by institutional investors and hedge funds.

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.