Sumit Singh Sells 191,096 Shares of Chewy, Inc. (NYSE:CHWY) Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 191,096 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.68, for a total value of $6,818,305.28. Following the completion of the sale, the chief executive officer now directly owns 707,126 shares of the company’s stock, valued at approximately $25,230,255.68. This trade represents a 21.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, January 6th, Sumit Singh sold 63,187 shares of Chewy stock. The stock was sold at an average price of $37.62, for a total value of $2,377,094.94.
• On Thursday, December 26th, Sumit Singh sold 571,903 shares of Chewy stock. The shares were 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 transaction 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 transaction of $2,312,732.50.

Chewy Stock Up 1.2 %

Shares of CHWY stock opened at $36.19 on Thursday. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10. The firm has a market cap of $14.74 billion, a PE ratio of 39.77, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10. The stock has a 50 day moving average of $32.92 and a 200-day moving average of $29.18.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) EPS. As a group, equities analysts predict that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Chewy

Hedge funds have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC acquired a new position in Chewy in the 2nd quarter valued at approximately $11,916,000. Sanctuary Advisors LLC acquired a new position in shares of Chewy in the second quarter valued at $673,000. Eagle Asset Management Inc. lifted its position in Chewy by 97.9% in the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares during the period. Marshall Wace LLP boosted its stake in 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 buying an additional 2,636,526 shares in the last quarter. Finally, Centiva Capital LP bought a new stake in Chewy in the 3rd quarter valued at $2,949,000. Institutional investors own 93.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CHWY. Barclays lifted their target price on shares of Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Mizuho raised Chewy from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $24.00 to $42.00 in a research report on Monday. Morgan Stanley upped their target price on Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Wedbush reiterated an “outperform” rating and set a $39.00 price target (up from $35.00) on shares of Chewy in a report on Thursday, December 5th. Finally, TD Cowen initiated coverage on Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.70.

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.