Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh Sells 114,130 Shares

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 114,130 shares of Chewy stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $37.70, for a total value of $4,302,701.00. Following the transaction, the chief executive officer now owns 529,809 shares in the company, valued at approximately $19,973,799.30. This trade represents a 17.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, January 6th, Sumit Singh sold 63,187 shares of Chewy stock. The shares were 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 stock was sold at an average price of $35.68, for a total transaction of $6,818,305.28.
• On Thursday, December 26th, Sumit Singh sold 571,903 shares of Chewy stock. The stock was sold at an average price of $34.52, for a total transaction 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 shares were sold at an average price of $32.50, for a total value of $2,312,732.50.

Chewy Trading Down 0.8 %

Shares of NYSE:CHWY opened at $36.99 on Friday. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10. The firm has a fifty day moving average price of $33.85 and a 200 day moving average price of $29.51. The stock has a market capitalization of $15.06 billion, a PE ratio of 40.64, a P/E/G ratio of 4.06 and a beta of 1.10.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) EPS. On average, sell-side analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Trading of Chewy

Large investors have recently modified their holdings of the company. Choreo LLC acquired a new position in shares of Chewy during the second quarter worth approximately $205,000. American Century Companies Inc. grew its position in Chewy by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 29,111 shares of the company’s stock worth $793,000 after purchasing an additional 9,166 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Chewy during the second quarter valued at about $380,000. Envestnet Asset Management Inc. lifted its stake in shares of Chewy by 243.6% in the second quarter. Envestnet Asset Management Inc. now owns 165,662 shares of the company’s stock valued at $4,513,000 after buying an additional 117,454 shares during the period. Finally, Moors & Cabot Inc. acquired a new stake in Chewy during the second quarter worth about $271,000. 93.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CHWY shares. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised their target price on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada boosted their price target on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. Finally, JMP Securities reissued a “market outperform” rating and set a $37.00 target price on shares of Chewy in a research note on Monday, December 16th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and an average target price 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.