Chewy, Inc. (NYSE:CHWY) CTO Sells 8,056 Shares

Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the sale, the chief technology officer now directly owns 585,962 shares in the company, valued at $19,612,148.14. The trade was a 1.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Chewy Stock Down 2.3 %

Shares of NYSE:CHWY traded down $0.77 during midday trading on Wednesday, reaching $32.85. The company had a trading volume of 15,736,476 shares, compared to its average volume of 8,624,959. The business’s 50 day moving average price is $30.31 and its 200 day moving average price is $26.99. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10. The stock has a market cap of $13.73 billion, a PE ratio of 37.35, a P/E/G ratio of 3.15 and a beta of 1.12.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) EPS. On average, research analysts expect that Chewy, Inc. will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chewy

Several institutional investors have recently made changes to their positions in the stock. 1620 Investment Advisors Inc. bought a new stake in shares of Chewy during the 2nd quarter valued at $33,000. Blue Trust Inc. increased its holdings in Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after buying an additional 905 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Chewy during the 2nd quarter worth approximately $44,000. First Horizon Advisors Inc. bought a new position in Chewy in the second quarter valued at approximately $48,000. Finally, Skylands Capital LLC acquired a new stake in shares of Chewy in the 2nd quarter valued at $52,000. 93.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on CHWY shares. UBS Group raised their price objective on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday. Barclays raised their target price on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Robert W. Baird increased their price objective on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Raymond James downgraded shares of Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.80.

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.