Chewy (NYSE:CHWY) Shares Down 3% on Insider Selling

Chewy, Inc. (NYSE:CHWY)’s stock price was down 3% during trading on Wednesday following insider selling activity. The company traded as low as $24.07 and last traded at $24.12. Approximately 7,767,203 shares were traded during trading, a decline of 28% from the average daily volume of 10,759,772 shares. The stock had previously closed at $24.87.

Specifically, CTO Satish Mehta sold 8,019 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $121,247.28. Following the transaction, the chief technology officer now directly owns 569,594 shares in the company, valued at $8,612,261.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sumit Singh sold 46,090 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $696,880.80. Following the transaction, the chief executive officer now directly owns 1,379,100 shares in the company, valued at $20,851,992. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Satish Mehta sold 8,019 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $121,247.28. Following the completion of the transaction, the chief technology officer now owns 569,594 shares in the company, valued at $8,612,261.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,942,371 shares of company stock worth $541,393,732. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CHWY. UBS Group increased their price objective on shares of Chewy from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Chewy from $18.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Mizuho increased their price objective on shares of Chewy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, June 10th. JPMorgan Chase & Co. increased their price objective on shares of Chewy from $22.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Morgan Stanley increased their price objective on shares of Chewy from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Chewy Price Performance

The company’s 50-day moving average price is $20.21 and its 200-day moving average price is $19.04. The company has a market cap of $10.49 billion, a P/E ratio of 134.00, a P/E/G ratio of 4.14 and a beta of 1.03.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.11. Chewy had a net margin of 0.73% and a return on equity of 16.62%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.85 billion. On average, equities research analysts predict that Chewy, Inc. will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Chewy

Large investors have recently made changes to their positions in the stock. Headinvest LLC bought a new position in Chewy in the third quarter valued at $39,000. Quest Partners LLC bought a new position in Chewy in the fourth quarter valued at $65,000. Future Financial Wealth Managment LLC bought a new position in Chewy in the first quarter valued at $65,000. EntryPoint Capital LLC grew its position in Chewy by 18.0% in the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after purchasing an additional 619 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Chewy by 37.8% in the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after acquiring an additional 922 shares during the period. 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.