Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 8,552 Shares of Stock

Chewy, Inc. (NYSE:CHWY - Get Free Report) CEO Sumit Singh sold 8,552 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total transaction of $285,209.20. Following the transaction, the chief executive officer now owns 62,096 shares of the company's stock, valued at approximately $2,070,901.60. This trade represents a 12.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, February 5th, Sumit Singh sold 57,432 shares of Chewy stock. The shares were sold at an average price of $37.90, for a total value of $2,176,672.80.
• On Thursday, January 30th, Sumit Singh sold 9,285 shares of Chewy stock. The stock was sold at an average price of $40.00, for a total value of $371,400.00.
• On Wednesday, January 22nd, Sumit Singh sold 13,472 shares of Chewy stock. The stock was sold at an average price of $37.55, for a total value of $505,873.60.
• On Friday, January 17th, Sumit Singh sold 4,000 shares of Chewy stock. The stock was sold at an average price of $37.52, for a total value of $150,080.00.
• On Wednesday, January 15th, Sumit Singh sold 114,130 shares of Chewy stock. The stock was sold at an average price of $37.70, for a total transaction of $4,302,701.00.
• On Monday, January 6th, Sumit Singh sold 63,187 shares of Chewy stock. The shares were sold at an average price of $37.62, for a total value of $2,377,094.94.

Chewy Price Performance

NYSE CHWY traded up $2.00 on Wednesday, hitting $33.21. 11,610,251 shares of the stock were exchanged, compared to its average volume of 7,523,962. The company has a market capitalization of $13.74 billion, a PE ratio of 36.49, a P/E/G ratio of 2.21 and a beta of 1.68. The business's fifty day moving average is $34.73 and its 200 day moving average is $33.30. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $40.09.

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Chewy (NYSE:CHWY - Get Free Report) last issued its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.25. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. Chewy's revenue was up 15.0% on a year-over-year basis. During the same period last year, the business posted $0.07 EPS. Analysts predict that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Chewy

Large investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC bought a new position in Chewy in the 4th quarter valued at about $2,915,000. Raymond James Financial Inc. acquired a new position in shares of Chewy in the fourth quarter valued at approximately $69,789,000. Geode Capital Management LLC increased its stake in shares of Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company's stock worth $45,443,000 after purchasing an additional 119,633 shares during the period. Birch Hill Investment Advisors LLC acquired a new stake in Chewy during the 4th quarter worth approximately $1,174,000. Finally, Money Concepts Capital Corp bought a new stake in Chewy in the 4th quarter valued at $225,000. 93.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CHWY. Wolfe Research upgraded Chewy from a "peer perform" rating to an "outperform" rating in a report on Friday, January 3rd. Wedbush restated an "outperform" rating and issued a $39.00 price objective on shares of Chewy in a research note on Thursday, March 27th. Needham & Company LLC reissued a "hold" rating on shares of Chewy in a report on Thursday, March 27th. JMP Securities reissued a "market outperform" rating and set a $37.00 price target on shares of Chewy in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. reduced their price target on Chewy from $40.00 to $36.00 and set an "overweight" rating on the stock in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $38.47.

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.