Sumit Singh Sells 63,187 Shares of Chewy, Inc. (NYSE:CHWY) Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 63,187 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 owns 643,939 shares of the company’s stock, valued at approximately $24,224,985.18. This trade represents a 8.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 value 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 shares were 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 transaction of $2,312,732.50.

Chewy Stock Performance

Shares of NYSE CHWY opened at $36.19 on Friday. The firm has a fifty day moving average of $33.10 and a 200 day moving average of $29.23. The firm 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. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays upped their price target 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. TD Cowen began coverage on Chewy in a research note on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price for the company. Wolfe Research upgraded Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Morgan Stanley raised their price objective on Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chewy currently has a consensus rating of “Moderate Buy” and an average target price of $35.70.

Institutional Trading of Chewy

A number of institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in Chewy by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 531,709 shares of the company’s stock valued at $15,574,000 after purchasing an additional 3,814 shares during the last quarter. Castellan Group acquired a new stake in shares of Chewy in the third quarter valued at about $5,282,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Chewy in the third quarter worth about $63,000. Virtu Financial LLC acquired a new position in Chewy during the third quarter worth about $795,000. Finally, Geode Capital Management LLC grew its stake in Chewy by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after acquiring an additional 119,633 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

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.