Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh Sells 6,728 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 6,728 shares of Chewy stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $104,485.84. Following the completion of the transaction, the chief executive officer now owns 129,991 shares of the company’s stock, valued at $2,018,760.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 value of $9,375.33.
• On Friday, February 2nd, Sumit Singh sold 192,642 shares of Chewy stock. The shares were sold at an average price of $17.70, for a total value of $3,409,763.40.

Chewy Stock Up 3.8 %

Shares of Chewy stock opened at $16.38 on Friday. The stock’s fifty day moving average is $17.04 and its 200-day moving average is $18.79. The firm has a market capitalization of $7.12 billion, a PE ratio of 204.71, a price-to-earnings-growth ratio of 8.21 and a beta of 0.90. Chewy, Inc. has a 12-month low of $15.08 and a 12-month high of $40.78.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UniSuper Management Pty Ltd purchased a new position in shares of Chewy during the second quarter valued at $28,000. Quarry LP boosted its position in Chewy by 120.2% during 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 purchased a new position in Chewy during the 3rd quarter valued at about $39,000. Quest Partners LLC purchased a new stake in shares of Chewy in the fourth quarter worth approximately $65,000. Finally, Signaturefd LLC boosted its holdings in shares of Chewy by 37.8% during the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after purchasing an additional 922 shares during the period. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CHWY shares. Mizuho started coverage on shares of Chewy in a report on Tuesday, March 19th. They issued a “neutral” rating and a $18.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of Chewy from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, December 7th. Barclays raised shares of Chewy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $19.00 to $30.00 in a research note on Thursday, January 11th. Royal Bank of Canada reduced their price target on shares of Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Bank of America decreased their price objective on shares of Chewy from $17.00 to $16.50 and set an “underperform” rating for the company in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.64.

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