Chewy (NYSE:CHWY) Shares Down 3% After Insider Selling

Chewy, Inc. (NYSE:CHWY) shares dropped 3% on Wednesday following insider selling activity. The company traded as low as $24.07 and last traded at $24.12. Approximately 7,767,203 shares were traded during trading, a decline of 28% from the average daily volume of 10,759,772 shares. The stock had previously closed at $24.87.

Specifically, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Sumit Singh sold 46,090 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $696,880.80. Following the sale, the chief executive officer now directly owns 1,379,100 shares of the company’s stock, valued at approximately $20,851,992. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of Chewy stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $30.32, for a total transaction of $40,576,103.84. The disclosure for this sale can be found here. Insiders have sold a total of 18,942,371 shares of company stock valued at $541,393,732 in the last ninety days. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CHWY has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Chewy from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. 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. The Goldman Sachs Group cut their target price on shares of Chewy from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Morgan Stanley raised their price target on shares of Chewy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, Needham & Company LLC boosted their price objective on shares of Chewy from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.50.

Chewy Trading Down 3.1 %

The stock has a market cap of $10.48 billion, a PE ratio of 136.00, a P/E/G ratio of 4.14 and a beta of 1.03. The company’s 50 day moving average is $20.21 and its 200-day moving average is $19.04.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. As a group, analysts forecast that Chewy, Inc. will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Chewy

Institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. grew its holdings in shares of Chewy by 16.8% during the fourth quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock valued at $436,748,000 after purchasing an additional 2,654,376 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Chewy during the 4th quarter worth $42,223,000. Vanguard Group Inc. lifted its stake in Chewy by 13.5% in the fourth quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock valued at $226,959,000 after buying an additional 1,140,269 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Chewy by 127.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock valued at $27,328,000 after acquiring an additional 963,540 shares during the period. Finally, Trexquant Investment LP grew its position in shares of Chewy by 282.9% during the fourth quarter. Trexquant Investment LP now owns 675,032 shares of the company’s stock worth $15,951,000 after acquiring an additional 498,753 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

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.