Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells $696,880.80 in Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 46,090 shares of Chewy 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 $696,880.80. Following the sale, the chief executive officer now directly owns 1,379,100 shares of the company’s stock, valued at $20,851,992. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, April 2nd, Sumit Singh sold 6,728 shares of Chewy stock. The stock was sold at an average price of $15.53, for a total value of $104,485.84.
• On Monday, March 4th, Sumit Singh sold 527 shares of Chewy stock. The shares were sold at an average price of $17.79, for a total transaction of $9,375.33.

Chewy Stock Down 0.3 %

Shares of CHWY stock opened at $15.44 on Thursday. The stock’s fifty day simple moving average is $16.57 and its 200 day simple moving average is $18.50. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $40.78. The firm has a market capitalization of $6.72 billion, a P/E ratio of 193.02, a P/E/G ratio of 8.28 and a beta of 0.91.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CHWY. Jefferies Financial Group cut their price objective on shares of Chewy from $27.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Wedbush reissued an “outperform” rating and set a $25.00 price target on shares of Chewy in a research report on Thursday, March 21st. Bank of America dropped their price objective on Chewy from $17.00 to $16.50 and set an “underperform” rating for the company in a report on Thursday, March 21st. Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of Chewy in a report on Thursday, March 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $28.00 price target on shares of Chewy in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Chewy presently has an average rating of “Moderate Buy” and an average price target of $26.83.

Hedge Funds Weigh In On Chewy

Several large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its holdings in Chewy by 15.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock valued at $95,000 after purchasing an additional 543 shares during the period. IFM Investors Pty Ltd raised its position in shares of Chewy by 5.7% during the third quarter. IFM Investors Pty Ltd now owns 13,371 shares of the company’s stock worth $244,000 after acquiring an additional 723 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Chewy by 3.8% in the third quarter. D.A. Davidson & CO. now owns 22,663 shares of the company’s stock valued at $414,000 after acquiring an additional 840 shares during the last quarter. Private Advisor Group LLC increased its position in Chewy by 7.9% during the 3rd quarter. Private Advisor Group LLC now owns 11,984 shares of the company’s stock valued at $219,000 after purchasing an additional 875 shares during the period. Finally, Signaturefd LLC raised its holdings in Chewy by 37.8% during the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after purchasing an additional 922 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

About Chewy

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.