Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta Sells 83,639 Shares

Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta sold 83,639 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $3,345,560.00. Following the sale, the chief technology officer now directly owns 334,218 shares of the company’s stock, valued at approximately $13,368,720. This trade represents a 20.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Satish Mehta also recently made the following trade(s):

• On Monday, January 13th, Satish Mehta sold 168,105 shares of Chewy stock. The stock was sold at an average price of $36.32, for a total transaction of $6,105,573.60.
• On Monday, December 2nd, Satish Mehta sold 8,056 shares of Chewy stock. The stock was sold at an average price of $33.47, for a total transaction of $269,634.32.

Chewy Trading Down 2.1 %

NYSE:CHWY opened at $38.95 on Monday. The stock has a market capitalization of $15.86 billion, a PE ratio of 42.80, a price-to-earnings-growth ratio of 4.36 and a beta of 1.10. The firm’s 50 day moving average is $34.99 and its 200 day moving average is $30.52. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09.

Chewy (NYSE:CHWY) last posted its quarterly 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 company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the previous year, the firm posted ($0.08) EPS. Chewy’s revenue was up 5.2% on a year-over-year basis. Research analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CHWY. Fifth Third Bancorp grew its stake in Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after buying an additional 444 shares in the last quarter. Blue Trust Inc. grew its position in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares in the last quarter. Planning Capital Management Corp purchased a new position in Chewy in the third quarter worth $52,000. Future Financial Wealth Managment LLC purchased a new position in Chewy in the third quarter worth $62,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Chewy in the third quarter worth $63,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHWY has been the subject of several research reports. Evercore ISI raised shares of Chewy from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $34.00 to $47.00 in a research report on Monday, January 13th. The Goldman Sachs Group lifted their price target on shares of Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Robert W. Baird lifted their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Royal Bank of Canada lifted their price target on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Finally, Mizuho raised shares of Chewy from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $24.00 to $42.00 in a research report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and a consensus target price of $36.80.

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.