Chewy, Inc. (NYSE:CHWY) CTO Sells $64,362.56 in Stock

Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta sold 2,894 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $64,362.56. Following the transaction, the chief technology officer now owns 573,463 shares of the company’s stock, valued at $12,753,817.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Chewy Stock Performance

Shares of NYSE CHWY opened at $23.71 on Friday. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $39.10. The stock’s fifty day moving average is $24.70 and its 200 day moving average is $19.64. The stock has a market capitalization of $10.31 billion, a P/E ratio of 131.72, a PEG ratio of 3.48 and a beta of 1.03.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Chewy had a net margin of 0.73% and a return on equity of 16.62%. Equities research analysts forecast that Chewy, Inc. will post 0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. 1620 Investment Advisors Inc. bought a new position in Chewy in the 2nd quarter valued at approximately $33,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Chewy in the 2nd quarter valued at $44,000. First Horizon Advisors Inc. acquired a new stake in shares of Chewy during the 2nd quarter valued at $48,000. Skylands Capital LLC bought a new stake in Chewy during the 2nd quarter worth $52,000. Finally, Quest Partners LLC bought a new stake in shares of Chewy during the fourth quarter worth about $65,000. Institutional investors own 93.09% of the company’s stock.

Analyst Ratings Changes

CHWY has been the subject of several recent research reports. Mizuho increased their target price on shares of Chewy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, June 10th. Needham & Company LLC raised their price objective on Chewy from $25.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Argus downgraded Chewy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Wolfe Research began coverage on Chewy in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Morgan Stanley boosted their price target on Chewy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Chewy currently has an average rating of “Moderate Buy” and a consensus target price of $27.07.

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.