Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 13,472 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 13,472 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $37.55, for a total value of $505,873.60. Following the completion of the sale, the chief executive officer now directly owns 505,109 shares in the company, valued at $18,966,842.95. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, January 17th, Sumit Singh sold 4,000 shares of Chewy stock. The shares were sold at an average price of $37.52, for a total value of $150,080.00.
• On Wednesday, January 15th, Sumit Singh sold 114,130 shares of Chewy stock. The stock was sold at an average price of $37.70, for a total transaction of $4,302,701.00.
• On Monday, January 6th, Sumit Singh sold 63,187 shares of Chewy stock. The stock was sold at an average price of $37.62, for a total value of $2,377,094.94.
• On Friday, January 3rd, Sumit Singh sold 191,096 shares of Chewy stock. The shares were sold at an average price of $35.68, for a total value of $6,818,305.28.
• 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 transaction of $2,490,635.00.
• On Thursday, December 19th, Sumit Singh sold 71,161 shares of Chewy stock. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50.

Chewy Trading Up 3.3 %

Shares of NYSE:CHWY traded up $1.25 during midday trading on Friday, reaching $39.25. 5,990,512 shares of the company were exchanged, compared to its average volume of 5,781,005. The stock has a market cap of $15.98 billion, a PE ratio of 43.13, a price-to-earnings-growth ratio of 4.16 and a beta of 1.10. The business’s fifty day moving average is $34.33 and its two-hundred day moving average is $29.95. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.60.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period last year, the company earned ($0.08) EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Chewy, Inc. will post 0.24 EPS for the current year.

Institutional Investors Weigh In On Chewy

Several hedge funds and other institutional investors have recently modified their holdings of CHWY. American Century Companies Inc. lifted its stake in Chewy by 46.0% in the second quarter. American Century Companies Inc. now owns 29,111 shares of the company’s stock worth $793,000 after acquiring an additional 9,166 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Chewy by 243.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 165,662 shares of the company’s stock valued at $4,513,000 after acquiring an additional 117,454 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Chewy by 10.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock valued at $308,000 after purchasing an additional 1,029 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in Chewy by 29.3% in the second quarter. Ensign Peak Advisors Inc now owns 57,193 shares of the company’s stock worth $1,558,000 after purchasing an additional 12,950 shares in the last quarter. Finally, Gabelli Funds LLC purchased a new position in Chewy in the second quarter worth $232,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Argus upgraded Chewy from a “hold” rating to a “buy” rating in a report on Thursday. Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and increased their price target for the company from $24.00 to $42.00 in a research report on Monday, January 6th. The Goldman Sachs Group upped their price objective on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Piper Sandler raised their target price on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Finally, Citigroup raised Chewy from a “neutral” rating to a “buy” rating and upped their price target for the company from $28.00 to $40.00 in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

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.