Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh Sells 46,090 Shares

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 46,090 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $696,880.80. Following the completion of the sale, the chief executive officer now directly owns 1,379,100 shares of the company’s stock, valued at $20,851,992. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $15.53, for a total value 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 Trading Up 0.4 %

CHWY stock opened at $15.98 on Tuesday. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 199.77, a PEG ratio of 8.28 and a beta of 0.91. The firm has a 50 day moving average of $16.61 and a 200-day moving average of $18.51. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.78.

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

Institutional Investors Weigh In On Chewy

A number of large investors have recently added to or reduced their stakes in CHWY. Baillie Gifford & Co. raised its position in Chewy by 16.8% during the fourth quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock worth $436,748,000 after acquiring an additional 2,654,376 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Chewy during the 4th quarter worth approximately $42,223,000. Bank of New York Mellon Corp lifted its stake in Chewy by 101.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock valued at $63,518,000 after buying an additional 1,751,131 shares in the last quarter. Vanguard Group Inc. grew its holdings in Chewy by 13.5% during the 4th quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock valued at $226,959,000 after buying an additional 1,140,269 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in Chewy by 141.2% during the third quarter. Qube Research & Technologies Ltd now owns 1,188,823 shares of the company’s stock worth $21,708,000 after buying an additional 695,907 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CHWY shares. Needham & Company LLC reissued a “buy” rating and set a $25.00 price objective on shares of Chewy in a research report on Thursday, March 21st. JMP Securities restated a “market outperform” rating and issued a $28.00 price target on shares of Chewy in a research report on Friday, March 15th. Royal Bank of Canada decreased their price objective on Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Barclays raised Chewy from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $30.00 in a report on Thursday, January 11th. Finally, Bank of America decreased their price target on Chewy from $17.00 to $16.50 and set an “underperform” rating for the company in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

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.