Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 46,090 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 46,090 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total transaction of $696,880.80. Following the transaction, the chief executive officer now directly owns 1,379,100 shares of the company’s stock, valued at approximately $20,851,992. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, April 2nd, Sumit Singh sold 6,728 shares of Chewy stock. The stock was sold at an average price of $15.53, for a total transaction of $104,485.84.
• On Monday, March 4th, Sumit Singh sold 527 shares of Chewy stock. The stock was sold at an average price of $17.79, for a total transaction of $9,375.33.

Chewy Stock Performance

Chewy stock traded up $0.07 during trading hours on Monday, hitting $15.98. 4,595,151 shares of the stock were exchanged, compared to its average volume of 8,769,308. The stock has a market capitalization of $6.95 billion, a P/E ratio of 198.90, a P/E/G ratio of 8.28 and a beta of 0.91. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.78. The business’s 50-day moving average is $16.62 and its two-hundred day moving average is $18.52.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.09. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Chewy had a net margin of 0.33% and a return on equity of 11.69%. On average, equities analysts predict that Chewy, Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chewy

Large investors have recently modified their holdings of the stock. CenterBook Partners LP acquired a new position in shares of Chewy during the third quarter worth approximately $573,000. Rafferty Asset Management LLC lifted its position in shares of Chewy by 29.9% during the third quarter. Rafferty Asset Management LLC now owns 19,677 shares of the company’s stock worth $359,000 after purchasing an additional 4,524 shares in the last quarter. Platinum Investment Management Ltd. acquired a new position in shares of Chewy during the third quarter worth approximately $1,230,000. Victory Capital Management Inc. lifted its position in shares of Chewy by 364.2% during the third quarter. Victory Capital Management Inc. now owns 57,662 shares of the company’s stock worth $1,053,000 after purchasing an additional 45,240 shares in the last quarter. Finally, Marathon Trading Investment Management LLC acquired a new position in shares of Chewy during the third quarter worth approximately $1,076,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CHWY. Mizuho began coverage on shares of Chewy in a research report on Tuesday, March 19th. They set a “neutral” rating and a $18.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of Chewy in a research report on Thursday, March 21st. JMP Securities reaffirmed a “market outperform” rating and set a $28.00 price objective on shares of Chewy in a research report on Friday, March 15th. Wedbush reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Chewy in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Chewy from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.50.

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.