Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 71,161 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 71,161 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $35.00, for a total transaction of $2,490,635.00. Following the completion of the transaction, the chief executive officer now directly owns 6,677 shares of the company’s stock, valued at approximately $233,695. This trade represents a 91.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, December 19th, Sumit Singh sold 71,161 shares of Chewy stock. The stock was sold at an average price of $32.50, for a total value of $2,312,732.50.

Chewy Stock Performance

CHWY traded down $0.98 on Thursday, hitting $34.03. 4,500,533 shares of the company were exchanged, compared to its average volume of 8,491,944. The firm has a fifty day simple moving average of $31.47 and a two-hundred day simple moving average of $28.42. The stock has a market capitalization of $13.86 billion, a PE ratio of 37.40, a price-to-earnings-growth ratio of 4.28 and a beta of 1.12. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10.

Chewy (NYSE:CHWY) last issued its 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. 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 3.51% and a return on equity of 24.47%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) earnings per share. On average, equities analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised their price objective on shares of Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Evercore ISI upped their target price on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Piper Sandler raised their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Finally, BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.60.

Institutional Trading of Chewy

Large investors have recently modified their holdings of the business. Raymond James & Associates increased its position in shares of Chewy by 23.7% during the second quarter. Raymond James & Associates now owns 96,887 shares of the company’s stock valued at $2,639,000 after buying an additional 18,586 shares during the period. Bank of New York Mellon Corp boosted its stake in Chewy by 7.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company’s stock worth $96,787,000 after purchasing an additional 258,502 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Chewy by 3.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 67,765 shares of the company’s stock valued at $1,846,000 after purchasing an additional 2,077 shares during the last quarter. Ameritas Advisory Services LLC increased its stake in Chewy by 16.5% during the 2nd quarter. Ameritas Advisory Services LLC now owns 47,453 shares of the company’s stock valued at $1,293,000 after purchasing an additional 6,725 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Chewy in the second quarter worth about $14,380,000. 93.09% of the stock is owned by institutional investors.

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.