Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells $2,312,732.50 in Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 71,161 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $32.50, for a total value of $2,312,732.50. Following the completion of the sale, the chief executive officer now owns 77,838 shares of the company’s stock, valued at approximately $2,529,735. This trade represents a 47.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Chewy Trading Up 0.3 %

NYSE:CHWY opened at $35.01 on Thursday. The company has a 50-day moving average of $31.35 and a 200-day moving average of $28.37. The firm has a market cap of $14.26 billion, a price-to-earnings ratio of 38.47, a price-to-earnings-growth ratio of 4.28 and a beta of 1.12. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly 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. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same quarter in the previous year, the business posted ($0.08) earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current year.

Institutional Investors Weigh In On Chewy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates increased its stake in Chewy by 23.7% in the 2nd quarter. Raymond James & Associates now owns 96,887 shares of the company’s stock worth $2,639,000 after purchasing an additional 18,586 shares in the last quarter. &PARTNERS purchased a new stake in Chewy in the 2nd quarter worth approximately $488,000. Bank of New York Mellon Corp grew its stake in Chewy by 7.8% in the second quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company’s stock valued at $96,787,000 after purchasing an additional 258,502 shares in the last quarter. Skylands Capital LLC acquired a new position in Chewy in the second quarter worth approximately $52,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Chewy by 3.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 67,765 shares of the company’s stock worth $1,846,000 after purchasing an additional 2,077 shares during the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CHWY shares. Barclays boosted their target price on shares of Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. JPMorgan Chase & Co. lifted their price target on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Morgan Stanley boosted their target price on shares of Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. TD Cowen started coverage on Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

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.