Satish Mehta Sells 71,365 Shares of Chewy, Inc. (NYSE:CHWY) Stock

Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the transaction, the chief technology officer now owns 262,853 shares in the company, valued at approximately $9,357,566.80. This trade represents a 21.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Satish Mehta also recently made the following trade(s):

• On Thursday, January 30th, Satish Mehta sold 83,639 shares of Chewy stock. The stock was sold at an average price of $40.00, for a total transaction of $3,345,560.00.
• On Monday, January 13th, Satish Mehta sold 168,105 shares of Chewy stock. The stock was sold at an average price of $36.32, for a total transaction of $6,105,573.60.

Chewy Stock Down 4.7 %

NYSE:CHWY opened at $31.76 on Tuesday. The company has a market capitalization of $12.93 billion, a PE ratio of 34.90, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $40.09. The stock has a fifty day simple moving average of $36.71 and a 200-day simple moving average of $32.69.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in shares of Chewy during the 4th quarter worth $30,000. Fifth Third Bancorp raised its stake in Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after purchasing an additional 444 shares during the last quarter. Blue Trust Inc. raised its stake in Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares during the last quarter. Planning Capital Management Corp acquired a new position in Chewy in the 3rd quarter valued at about $52,000. Finally, Allworth Financial LP raised its stake in Chewy by 52.0% in the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after purchasing an additional 650 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

CHWY has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Guggenheim set a $42.00 price objective on shares of Chewy and gave the company a “buy” rating in a research report on Tuesday, February 4th. Royal Bank of Canada lifted their price objective on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Barclays lifted their price objective on shares of Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Wedbush reiterated an “outperform” rating and issued a $39.00 price objective (up from $35.00) on shares of Chewy in a research report on Thursday, December 5th. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.30.

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.