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

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 63,187 shares of the 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 sale, the chief executive officer now directly owns 643,939 shares of the company’s stock, valued at approximately $24,224,985.18. This represents a 8.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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 stock was sold at an average price of $32.50, for a total value of $2,312,732.50.

Chewy Price Performance

Chewy stock opened at $36.19 on Thursday. The firm has a market cap of $14.74 billion, a price-to-earnings ratio of 39.77, a P/E/G ratio of 4.28 and a beta of 1.10. The firm has a fifty day moving average price of $32.92 and a two-hundred day moving average price of $29.18. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $39.10.

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

Hedge Funds Weigh In On Chewy

A number of institutional investors and hedge funds have recently bought and sold shares of CHWY. Susquehanna Fundamental Investments LLC acquired a new position in Chewy in the second quarter worth about $11,916,000. Sanctuary Advisors LLC bought a new position in shares of Chewy during the second quarter valued at $673,000. Eagle Asset Management Inc. boosted its stake in shares of Chewy by 97.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after purchasing an additional 975,647 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after purchasing an additional 2,636,526 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of Chewy during the 3rd quarter worth about $2,949,000. Institutional investors own 93.09% of the company’s stock.

Wall Street Analysts Forecast Growth

CHWY has been the topic of several analyst reports. UBS Group lifted their target price on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $28.00 to $40.00 in a report on Friday, November 8th. BNP Paribas downgraded Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Barclays lifted their target price on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, Piper Sandler increased their price target on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.