Chewy, Inc. (NYSE:CHWY) CEO Sells $2,490,635.00 in Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 71,161 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $35.00, for a total transaction of $2,490,635.00. Following the completion of the transaction, the chief executive officer now directly owns 6,677 shares in the company, valued at $233,695. This trade represents a 91.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Thursday, December 19th, Sumit Singh sold 71,161 shares of Chewy stock. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50.

Chewy Trading Up 0.1 %

NYSE:CHWY opened at $34.07 on Friday. The company has a market cap of $13.87 billion, a price-to-earnings ratio of 37.44, a price-to-earnings-growth ratio of 4.28 and a beta of 1.12. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10. The stock has a fifty day simple moving average of $31.66 and a 200-day simple moving average of $28.58.

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

Institutional Trading of Chewy

A number of large investors have recently modified their holdings of CHWY. Blue Trust Inc. raised its position in Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after purchasing an additional 905 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in shares of Chewy in the second quarter valued at about $44,000. Planning Capital Management Corp purchased a new stake in Chewy in the third quarter worth about $52,000. Future Financial Wealth Managment LLC bought a new position in Chewy during the 3rd quarter worth about $62,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Chewy during the 3rd quarter valued at about $63,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CHWY. BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Piper Sandler raised their target price on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and upped their price target for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. JMP Securities reissued a “market outperform” rating and issued a $37.00 price objective on shares of Chewy in a research note on Monday, December 16th. Finally, UBS Group upped their target price on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and an average price target of $34.60.

Chewy Company Profile

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.