Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 63,187 Shares of Stock

Chewy, Inc. (NYSE:CHWY - Get Free Report) CEO Sumit Singh sold 63,187 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $37.62, for a total transaction of $2,377,094.94. Following the completion of the sale, the chief executive officer now directly owns 643,939 shares of the company's stock, valued at approximately $24,224,985.18. The trade was a 8.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, January 3rd, Sumit Singh sold 191,096 shares of Chewy stock. The shares were sold at an average price of $35.68, for a total transaction of $6,818,305.28.
• On Thursday, December 26th, Sumit Singh sold 571,903 shares of Chewy stock. The stock was sold at an average price of $34.52, for a total value of $19,742,091.56.
• On Tuesday, December 24th, Sumit Singh sold 71,161 shares of Chewy stock. The stock was sold at an average price of $35.00, for a total value 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 value of $2,312,732.50.

Chewy Trading Up 1.2 %

CHWY traded up $0.42 during mid-day trading on Wednesday, hitting $36.19. 5,882,978 shares of the stock were exchanged, compared to its average volume of 7,806,071. The company has a market cap of $14.74 billion, a PE ratio of 39.77, a PEG ratio of 4.28 and a beta of 1.10. The firm's fifty day moving average is $32.92 and its two-hundred day moving average is $29.18. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CHWY. TD Cowen initiated coverage on shares of Chewy in a report on Wednesday, October 9th. They set a "buy" rating and a $38.00 target price for the company. Piper Sandler upped their price objective on shares of Chewy from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. raised their target price on shares of Chewy from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Robert W. Baird upped their price target on Chewy from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Monday, November 25th. Finally, The Goldman Sachs Group lifted their price objective on Chewy from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.70.

Institutional Trading of Chewy

A number of large investors have recently modified their holdings of CHWY. BC Partners Advisors L.P. purchased a new position in Chewy in the second quarter worth approximately $7,517,800,000. FMR LLC lifted its position in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company's stock worth $117,023,000 after purchasing an additional 2,497,689 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company's stock worth $78,801,000 after purchasing an additional 2,636,526 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in Chewy by 5.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company's stock valued at $81,014,000 after buying an additional 138,768 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Chewy by 8.7% in the second quarter. Renaissance Technologies LLC now owns 2,521,755 shares of the company's stock valued at $68,693,000 after buying an additional 200,900 shares in the last quarter. Hedge funds and other institutional investors own 93.09% of the company's stock.

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.