Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 571,903 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 571,903 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $34.52, for a total transaction of $19,742,091.56. Following the sale, the chief executive officer now directly owns 898,222 shares in the company, valued at $31,006,623.44. This trade represents a 38.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, December 24th, Sumit Singh sold 71,161 shares of Chewy stock. The shares were sold at an average price of $35.00, for a total transaction of $2,490,635.00.
• On Thursday, December 19th, Sumit Singh sold 71,161 shares of Chewy stock. The shares were sold at an average price of $32.50, for a total transaction of $2,312,732.50.

Chewy Stock Performance

NYSE:CHWY opened at $33.49 on Thursday. The firm has a market cap of $13.64 billion, a price-to-earnings ratio of 36.80, a price-to-earnings-growth ratio of 4.28 and a beta of 1.12. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $39.10. The firm has a 50-day moving average price of $32.02 and a two-hundred day moving average price of $28.81.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same quarter last year, the business posted ($0.08) EPS. Chewy’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current year.

Institutional Investors Weigh In On Chewy

Large investors have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in shares of Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares during the last quarter. Planning Capital Management Corp purchased a new position in Chewy in the 3rd quarter valued at approximately $52,000. Future Financial Wealth Managment LLC purchased a new position in Chewy in the 3rd quarter valued at approximately $62,000. Wilmington Savings Fund Society FSB purchased a new position in Chewy in the 3rd quarter valued at approximately $63,000. Finally, Castleview Partners LLC purchased a new position in Chewy in the 3rd quarter valued at approximately $76,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CHWY shares. Citigroup raised shares of Chewy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $28.00 to $40.00 in a research report on Friday, November 8th. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $24.00 to $40.00 in a research report on Wednesday, November 20th. Morgan Stanley increased their price objective on shares of Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

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.