Chewy, Inc. (NYSE:CHWY) CTO Sells $121,247.28 in Stock

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

Chewy Stock Performance

NYSE CHWY opened at $15.44 on Thursday. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 193.02, a PEG ratio of 8.28 and a beta of 0.91. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.78. The company’s 50 day moving average price is $16.57 and its 200 day moving average price is $18.50.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Chewy had a net margin of 0.33% and a return on equity of 11.69%. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. Sell-side analysts forecast that Chewy, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Chewy

A number of large investors have recently modified their holdings of the stock. Headinvest LLC purchased a new position in Chewy in the 3rd quarter worth approximately $39,000. Quest Partners LLC acquired a new position in shares of Chewy during the fourth quarter worth $65,000. Signaturefd LLC boosted its stake in shares of Chewy by 37.8% in the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after purchasing an additional 922 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Chewy by 15.6% during the 4th 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. Finally, Future Financial Wealth Managment LLC acquired a new stake in Chewy during the 1st quarter valued at $65,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CHWY. Mizuho began coverage on Chewy in a report on Tuesday, March 19th. They issued a “neutral” rating and a $18.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $28.00 price objective on shares of Chewy in a research note on Friday, March 15th. Royal Bank of Canada decreased their price objective on Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of Chewy in a research note on Thursday, March 21st. Finally, Jefferies Financial Group decreased their price objective on Chewy from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.