Sumit Singh Sells 192,642 Shares of Chewy, Inc. (NYSE:CHWY) Stock

Chewy, Inc. (NYSE:CHWYGet Free Report) CEO Sumit Singh sold 192,642 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total value of $3,409,763.40. Following the completion of the transaction, the chief executive officer now directly owns 1,307,025 shares in the company, valued at approximately $23,134,342.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Chewy Trading Down 1.1 %

Shares of CHWY stock opened at $16.94 on Thursday. The business’s 50 day moving average is $20.34 and its two-hundred day moving average is $21.93. Chewy, Inc. has a twelve month low of $16.53 and a twelve month high of $49.54. The company has a market capitalization of $7.31 billion, a P/E ratio of 846.75, a price-to-earnings-growth ratio of 6.65 and a beta of 0.93.

Chewy (NYSE:CHWYGet Free Report) last posted its quarterly earnings results on Wednesday, December 6th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. As a group, equities analysts predict that Chewy, Inc. will post 0.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CHWY has been the subject of several analyst reports. Morgan Stanley lowered their price objective on Chewy from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, December 7th. Needham & Company LLC raised their target price on Chewy from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, December 15th. Royal Bank of Canada cut their target price on Chewy from $44.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, December 7th. The Goldman Sachs Group initiated coverage on Chewy in a research report on Wednesday, January 10th. They set a “buy” rating and a $36.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on Chewy in a research report on Tuesday, December 19th. They set a “buy” rating and a $27.00 target price on the stock. One 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 company’s stock. Based on data from MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and an average target price of $32.73.

Get Our Latest Research Report on CHWY

Institutional Trading of Chewy

Several hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Chewy by 10.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 159,553 shares of the company’s stock valued at $3,774,000 after buying an additional 15,618 shares during the period. Jump Financial LLC lifted its holdings in shares of Chewy by 356.6% in the 4th quarter. Jump Financial LLC now owns 164,569 shares of the company’s stock valued at $3,889,000 after buying an additional 128,525 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of Chewy in the 4th quarter valued at approximately $2,297,000. Charles Schwab Investment Management Inc. raised its holdings in Chewy by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock worth $15,767,000 after purchasing an additional 39,301 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in Chewy by 33.0% during the fourth quarter. Private Advisor Group LLC now owns 15,934 shares of the company’s stock worth $377,000 after purchasing an additional 3,950 shares during the last quarter. 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.

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

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