Satish Mehta Sells 40,523 Shares of Chewy, Inc. (NYSE:CHWY) Stock

Chewy, Inc. (NYSE:CHWYGet Free Report) CTO Satish Mehta sold 40,523 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $717,257.10. Following the completion of the transaction, the chief technology officer now owns 557,058 shares in the company, valued at approximately $9,859,926.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Chewy Stock Down 1.1 %

CHWY stock opened at $16.94 on Thursday. The company’s 50-day simple moving average is $20.34 and its 200-day simple moving average is $21.93. Chewy, Inc. has a 52-week low of $16.53 and a 52-week high of $49.54. The firm has a market cap of $7.31 billion, a P/E ratio of 846.75, a PEG ratio of 6.65 and a beta of 0.93.

Chewy (NYSE:CHWYGet Free Report) last issued its quarterly earnings results on Wednesday, December 6th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Chewy had a net margin of 0.10% and a return on equity of 14.40%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 earnings per share. On average, analysts anticipate that Chewy, Inc. will post 0.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on CHWY. Wedbush reiterated an “outperform” rating and set a $31.00 price target on shares of Chewy in a report on Tuesday, October 31st. Royal Bank of Canada dropped their price target on Chewy from $44.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, December 7th. Jefferies Financial Group assumed coverage on Chewy in a research note on Tuesday, December 19th. They issued a “buy” rating and a $27.00 target price for the company. Needham & Company LLC boosted their target price on Chewy from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, December 15th. Finally, Raymond James lowered their target price on Chewy from $33.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, December 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and an average price target of $32.73.

View Our Latest Stock Analysis on CHWY

Institutional Trading of Chewy

A number of hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. increased its holdings in shares of Chewy by 16.8% during the 4th quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock worth $436,748,000 after buying an additional 2,654,376 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Chewy by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,464,429 shares of the company’s stock worth $154,560,000 after buying an additional 344,273 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Chewy by 19.0% during the 1st quarter. Wellington Management Group LLP now owns 5,369,539 shares of the company’s stock worth $218,969,000 after buying an additional 856,909 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Chewy by 101.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock worth $63,518,000 after buying an additional 1,751,131 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Chewy by 17.1% during the 2nd quarter. Marshall Wace LLP now owns 3,426,667 shares of the company’s stock worth $135,251,000 after buying an additional 501,491 shares during the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

About Chewy

(Get Free Report)

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 Website www.chewy.com, as well as mobile applications.

Further Reading

Insider Buying and Selling by Quarter for Chewy (NYSE:CHWY)

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