Insider Selling: Chewy, Inc. (NYSE:CHWY) Major Shareholder Sells 19,827,242 Shares of Stock

Chewy, Inc. (NYSE:CHWY) major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $31.32, for a total transaction of $620,989,219.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Argos Holdings Gp Llc also recently made the following trade(s):

• On Tuesday, October 15th, Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00.
• On Monday, September 23rd, Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20.

Chewy Price Performance

NYSE CHWY traded up $0.39 during trading hours on Friday, hitting $32.26. 5,077,683 shares of the company’s stock traded hands, compared to its average volume of 8,603,544. The company has a market capitalization of $13.49 billion, a PE ratio of 35.01, a PEG ratio of 4.28 and a beta of 1.12. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $39.10. The firm’s 50-day moving average is $30.66 and its 200-day moving average is $27.59.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter last year, the business posted ($0.08) earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $28.00 to $40.00 in a research report on Friday, November 8th. Piper Sandler increased their price target on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. UBS Group lifted their price objective on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $24.00 to $40.00 in a research report on Wednesday, November 20th. Finally, Evercore ISI lifted their price target on Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.15.

Institutional Investors Weigh In On Chewy

Several hedge funds and other institutional investors have recently bought and sold shares of CHWY. 1620 Investment Advisors Inc. purchased a new stake in shares of Chewy in the 2nd quarter valued at approximately $33,000. Blue Trust Inc. increased its stake in Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in Chewy in the second quarter valued at $44,000. First Horizon Advisors Inc. acquired a new position in shares of Chewy in the 2nd quarter valued at $48,000. Finally, Skylands Capital LLC purchased a new position in shares of Chewy during the 2nd quarter worth $52,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.