Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 71,161 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 71,161 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $32.50, for a total value of $2,312,732.50. Following the transaction, the chief executive officer now directly owns 77,838 shares of the company’s stock, valued at $2,529,735. This represents a 47.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Chewy Stock Performance

Shares of CHWY opened at $35.01 on Wednesday. The firm has a market cap of $14.26 billion, a PE ratio of 38.47, a PEG ratio of 4.28 and a beta of 1.12. The firm’s 50 day moving average price is $31.23 and its 200 day moving average price is $28.29. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10.

Chewy (NYSE:CHWY) last released its quarterly earnings results 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 business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. Chewy’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. On average, sell-side analysts anticipate that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CHWY shares. Evercore ISI lifted their price objective on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Royal Bank of Canada raised their price objective on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Robert W. Baird boosted their target price on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Finally, Piper Sandler increased their price target on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.60.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BC Partners Advisors L.P. acquired a new stake in Chewy in the 2nd quarter worth approximately $7,517,800,000. FMR LLC lifted its stake in shares of Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after buying an additional 2,497,689 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Chewy by 7.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company’s stock worth $96,787,000 after buying an additional 258,502 shares during the period. Marshall Wace LLP grew its stake in Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after buying an additional 2,636,526 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its holdings in Chewy by 5.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock worth $81,014,000 after acquiring an additional 138,768 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

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.