Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells $371,400.00 in Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 9,285 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $371,400.00. Following the transaction, the chief executive officer now directly owns 489,750 shares in the company, valued at $19,590,000. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, January 22nd, Sumit Singh sold 13,472 shares of Chewy stock. The stock was sold at an average price of $37.55, for a total value of $505,873.60.
• On Friday, January 17th, Sumit Singh sold 4,000 shares of Chewy stock. The stock was sold at an average price of $37.52, for a total value of $150,080.00.
• On Wednesday, January 15th, Sumit Singh sold 114,130 shares of Chewy stock. The stock was sold at an average price of $37.70, for a total value of $4,302,701.00.
• On Monday, January 6th, Sumit Singh sold 63,187 shares of Chewy stock. The stock was 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 value 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 value 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 value of $2,490,635.00.
• 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 Down 2.1 %

CHWY stock opened at $38.95 on Monday. The firm has a market capitalization of $15.86 billion, a PE ratio of 42.80, a PEG ratio of 4.36 and a beta of 1.10. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $40.09. The stock has a 50-day simple moving average of $34.99 and a two-hundred day simple moving average of $30.52.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The business had revenue of $2.89 billion during 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 company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) EPS. On average, equities research analysts anticipate that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CHWY has been the subject of several recent research reports. Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $28.00 to $40.00 in a report on Friday, November 8th. TD Cowen assumed coverage on Chewy in a report on Wednesday, October 9th. They set a “buy” rating and a $38.00 price target for the company. Wolfe Research upgraded Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group upped their price objective on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Piper Sandler upped their price objective on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.80.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after acquiring an additional 2,497,689 shares during the last quarter. Clearbridge Investments LLC bought a new stake in shares of Chewy during the 2nd quarter valued at about $40,798,000. Eagle Asset Management Inc. boosted its position in shares of Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after acquiring an additional 975,647 shares during the last quarter. AMI Asset Management Corp bought a new stake in shares of Chewy during the 3rd quarter valued at about $17,756,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Chewy during the 3rd quarter valued at about $13,699,000. Hedge funds and other institutional investors 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.