Satish Mehta Sells 40,523 Shares of Chewy, Inc. (NYSE:CHWY) Stock

Chewy, Inc. (NYSE:CHWYGet Free Report) CTO Satish Mehta sold 40,523 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $717,257.10. Following the completion of the sale, the chief technology officer now directly owns 557,058 shares of the company’s stock, valued at approximately $9,859,926.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $16.94 on Thursday. Chewy, Inc. has a 1 year low of $16.53 and a 1 year high of $49.54. The stock has a market capitalization of $7.31 billion, a P/E ratio of 846.75, a PEG ratio of 6.65 and a beta of 0.93. The stock has a 50-day simple moving average of $20.34 and a 200-day simple moving average of $21.93.

Chewy (NYSE:CHWYGet Free Report) last announced its earnings results on Wednesday, December 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.75 billion. Chewy had a net margin of 0.10% and a return on equity of 14.40%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 earnings per share. Analysts predict that Chewy, Inc. will post 0.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CHWY. Morgan Stanley lowered their target price on shares of Chewy from $28.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, December 7th. UBS Group raised shares of Chewy from a “sell” rating to a “neutral” rating and reduced their target price for the company from $25.00 to $20.00 in a report on Wednesday, October 25th. Piper Sandler reduced their target price on shares of Chewy from $29.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, December 1st. Raymond James reduced their target price on shares of Chewy from $33.00 to $24.00 and set an “outperform” rating on the stock in a report on Monday, December 4th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Chewy in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Chewy has a consensus rating of “Moderate Buy” and an average price target of $32.73.

Read Our Latest Stock Report on CHWY

Institutional Investors Weigh In On Chewy

Several institutional investors and hedge funds have recently made changes to their positions in CHWY. UniSuper Management Pty Ltd purchased a new stake in shares of Chewy during the second quarter valued at $28,000. Quarry LP lifted its position in shares of Chewy by 120.2% in the 1st quarter. Quarry LP now owns 874 shares of the company’s stock worth $33,000 after acquiring an additional 477 shares during the period. Headinvest LLC bought a new stake in shares of Chewy in the 3rd quarter worth approximately $39,000. CWM LLC lifted its position in shares of Chewy by 64.1% during the 2nd quarter. CWM LLC now owns 1,257 shares of the company’s stock worth $50,000 after buying an additional 491 shares during the period. Finally, Signaturefd LLC lifted its position in shares of Chewy by 37.8% during the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after buying an additional 922 shares during the period. 98.28% of the stock is owned by institutional investors and hedge funds.

Chewy Company Profile

(Get Free Report)

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 Website www.chewy.com, as well as mobile applications.

Further Reading

Insider Buying and Selling by Quarter for Chewy (NYSE:CHWY)

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