Sumit Singh Sells 46,090 Shares of Chewy, Inc. (NYSE:CHWY) Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 46,090 shares of Chewy stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $696,880.80. Following the completion of the sale, the chief executive officer now owns 1,379,100 shares of the company’s stock, valued at approximately $20,851,992. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Tuesday, April 2nd, Sumit Singh sold 6,728 shares of Chewy stock. The shares were sold at an average price of $15.53, for a total transaction 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 value of $9,375.33.

Chewy Stock Down 3.2 %

Shares of CHWY stock opened at $15.47 on Wednesday. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.78. The company has a 50 day moving average of $16.57 and a 200-day moving average of $18.50. The firm has a market cap of $6.73 billion, a P/E ratio of 193.40, a PEG ratio of 8.28 and a beta of 0.91.

Chewy (NYSE:CHWY) last issued its earnings results 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. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. Chewy had a return on equity of 11.69% and a net margin of 0.33%. As a group, equities analysts expect that Chewy, Inc. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Chewy

Several institutional investors have recently added to or reduced their stakes in CHWY. Headinvest LLC bought a new stake in shares of Chewy in the third quarter valued at approximately $39,000. Quest Partners LLC purchased a new position in Chewy in the 4th quarter valued at approximately $65,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Chewy during the first quarter worth $65,000. Signaturefd LLC boosted its holdings in shares of Chewy by 37.8% in the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after acquiring an additional 922 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of 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 in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CHWY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of Chewy in a research report on Thursday, March 21st. Mizuho started coverage on shares of Chewy in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $18.00 price objective on the stock. Bank of America reduced their price objective on shares of Chewy from $17.00 to $16.50 and set an “underperform” rating for the company in a report on Thursday, March 21st. Jefferies Financial Group dropped their price target on shares of Chewy from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Finally, Piper Sandler decreased their price objective on Chewy from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.83.

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.