Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh Sells 191,096 Shares

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 191,096 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.68, for a total value of $6,818,305.28. Following the transaction, 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 Thursday, December 26th, Sumit Singh sold 571,903 shares of Chewy stock. The shares were 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 shares were sold at an average price of $32.50, for a total value of $2,312,732.50.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $35.85 on Wednesday. The firm’s 50 day simple moving average is $32.73 and its 200-day simple moving average is $29.13. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10. The firm has a market cap of $14.60 billion, a PE ratio of 39.40, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping 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 company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period last year, the business posted ($0.08) EPS. Chewy’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts predict that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Institutional Trading of Chewy

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Mizuho raised shares of Chewy from a “neutral” rating to an “outperform” rating and upped their price target for the company from $24.00 to $42.00 in a research note on Monday. Robert W. Baird upped 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. Piper Sandler lifted their price target on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Barclays boosted their price objective on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and a consensus 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.