Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 191,096 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 191,096 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.68, for a total value of $6,818,305.28. Following the completion of the transaction, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, January 6th, Sumit Singh sold 63,187 shares of Chewy stock. The shares were sold at an average price of $37.62, for a total value of $2,377,094.94.
• 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 transaction 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 transaction of $2,312,732.50.

Chewy Stock Up 1.2 %

NYSE:CHWY opened at $36.19 on Thursday. The stock’s fifty day simple moving average is $32.92 and its 200-day simple moving average is $29.18. The firm 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 12-month low of $14.69 and a 12-month high of $39.10.

Chewy (NYSE:CHWY) last posted 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. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) EPS. As a group, equities research analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current year.

Institutional Investors Weigh In On Chewy

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of Chewy by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 531,709 shares of the company’s stock valued at $15,574,000 after buying an additional 3,814 shares during the period. Castellan Group bought a new position in Chewy during the third quarter worth about $5,282,000. Wilmington Savings Fund Society FSB acquired a new position in Chewy in the third quarter valued at about $63,000. Virtu Financial LLC bought a new stake in shares of Chewy in the third quarter worth about $795,000. Finally, Geode Capital Management LLC raised its position in shares of Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after purchasing an additional 119,633 shares during the period. Institutional investors own 93.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CHWY. BNP Paribas lowered shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $24.00 to $42.00 in a research report on Monday. Needham & Company LLC restated a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Royal Bank of Canada lifted their price target on Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group increased their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.