Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh Sells 63,187 Shares

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 63,187 shares of Chewy stock in a transaction on Monday, January 6th. The stock was sold at an average price of $37.62, for a total transaction of $2,377,094.94. Following the transaction, the chief executive officer now directly owns 643,939 shares in the company, valued at $24,224,985.18. This represents a 8.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, January 3rd, Sumit Singh sold 191,096 shares of Chewy stock. The stock was sold at an average price of $35.68, for a total transaction 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 value 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 Price Performance

CHWY stock traded up $0.42 during midday trading on Wednesday, reaching $36.19. The company had a trading volume of 5,875,825 shares, compared to its average volume of 7,805,092. The firm has a 50-day moving average price of $32.73 and a 200-day moving average price of $29.13. The company has a market capitalization of $14.74 billion, a P/E ratio of 39.77, a P/E/G ratio of 4.28 and a beta of 1.10. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.86 billion. During the same period in the previous year, the business earned ($0.08) earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts predict that Chewy, Inc. will post 0.24 EPS for the current year.

Hedge Funds Weigh In On Chewy

Institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its position in Chewy by 20.3% during the second quarter. Commonwealth Equity Services LLC now owns 48,704 shares of the company’s stock valued at $1,327,000 after buying an additional 8,228 shares during the period. Arizona State Retirement System grew its position in Chewy by 15.3% during the 2nd quarter. Arizona State Retirement System now owns 38,087 shares of the company’s stock worth $1,037,000 after acquiring an additional 5,048 shares during the last quarter. PFG Investments LLC increased its stake in Chewy by 22.4% in the 2nd quarter. PFG Investments LLC now owns 13,189 shares of the company’s stock worth $359,000 after purchasing an additional 2,416 shares during the period. Choreo LLC bought a new stake in Chewy in the second quarter valued at approximately $205,000. Finally, Malaga Cove Capital LLC boosted its stake in shares of Chewy by 18.9% during the second quarter. Malaga Cove Capital LLC now owns 53,766 shares of the company’s stock valued at $1,465,000 after purchasing an additional 8,534 shares during the period. 93.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CHWY. Robert W. Baird increased their target price on shares of Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Morgan Stanley boosted their target price on Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. The Goldman Sachs Group increased their price target on Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.70.

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.