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

Chewy, Inc. (NYSE:CHWY - Get Free Report) 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 completion of the transaction, the chief technology officer now owns 262,853 shares in the company, valued at $9,357,566.80. This represents a 21.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, January 30th, Satish Mehta sold 83,639 shares of Chewy stock. The shares were 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 Trading Down 3.0 %

Chewy stock traded down $1.00 during mid-day trading on Thursday, hitting $32.26. The company had a trading volume of 4,312,359 shares, compared to its average volume of 7,701,494. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09. The stock's 50 day moving average price is $36.70 and its two-hundred day moving average price is $32.74. The company has a market capitalization of $13.13 billion, a PE ratio of 35.45, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23.

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Hedge Funds Weigh In On Chewy

A number of hedge funds have recently bought and sold shares of CHWY. Banque Transatlantique SA purchased a new position in Chewy in the fourth quarter worth about $30,000. Fifth Third Bancorp raised its stake in shares of Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after purchasing an additional 444 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock valued at $58,000 after purchasing an additional 320 shares in the last quarter. Planning Capital Management Corp bought a new stake in Chewy in the 3rd quarter worth about $52,000. Finally, Allworth Financial LP raised its position in Chewy by 52.0% in the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company's stock worth $71,000 after buying an additional 650 shares during the last quarter. Institutional investors own 93.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Mizuho raised Chewy from a "neutral" rating to an "outperform" rating and upped their price target for the company from $24.00 to $42.00 in a research report on Monday, January 6th. BNP Paribas downgraded Chewy from an "outperform" rating to a "neutral" rating in a report on Thursday, December 5th. The Goldman Sachs Group lifted their price target on shares of Chewy from $35.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Guggenheim set a $42.00 price objective on shares of Chewy and gave the stock a "buy" rating in a report on Tuesday, February 4th. Finally, Argus raised shares of Chewy from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Chewy has an average 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.