Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta Sells 8,019 Shares

Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta sold 8,019 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $121,247.28. Following the sale, the chief technology officer now directly owns 569,594 shares in the company, valued at $8,612,261.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Chewy Stock Performance

NYSE:CHWY opened at $15.47 on Wednesday. The firm has a 50-day simple moving average of $16.57 and a 200-day simple moving average of $18.50. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.78. The firm has a market cap of $6.73 billion, a P/E ratio of 193.40, a P/E/G ratio of 8.28 and a beta of 0.91.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. Chewy had a net margin of 0.33% and a return on equity of 11.69%. On average, research analysts predict that Chewy, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays raised Chewy from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $30.00 in a research report on Thursday, January 11th. Piper Sandler reduced their target price on shares of Chewy from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 23rd. Bank of America dropped their price target on shares of Chewy from $17.00 to $16.50 and set an “underperform” rating for the company in a research note on Thursday, March 21st. JPMorgan Chase & Co. reduced their price objective on shares of Chewy from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Finally, Wedbush restated an “outperform” rating and set a $25.00 target price on shares of Chewy in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.83.

Institutional Investors Weigh In On Chewy

A number of institutional investors have recently added to or reduced their stakes in CHWY. SG Americas Securities LLC purchased a new stake in shares of Chewy during the third quarter valued at about $653,000. Commonwealth Equity Services LLC lifted its position in Chewy by 77.0% during the third quarter. Commonwealth Equity Services LLC now owns 45,444 shares of the company’s stock valued at $830,000 after acquiring an additional 19,768 shares during the last quarter. Raymond James & Associates boosted its stake in Chewy by 124.6% in the third quarter. Raymond James & Associates now owns 127,673 shares of the company’s stock valued at $2,331,000 after acquiring an additional 70,826 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Chewy by 101.4% during the third quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock worth $63,518,000 after purchasing an additional 1,751,131 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of Chewy during the 3rd quarter valued at $455,000. Institutional investors own 93.09% of the company’s stock.

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.