Insider Selling: Chewy, Inc. (NYSE:CHWY) Major Shareholder Sells $499,999,500.00 in Stock

Chewy, Inc. (NYSE:CHWY) major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of Chewy stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total value of $499,999,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Chewy Stock Down 6.2 %

Chewy stock opened at $27.24 on Monday. The business has a 50 day moving average price of $19.83 and a two-hundred day moving average price of $18.98. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.78. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of 151.33, a price-to-earnings-growth ratio of 4.14 and a beta of 1.00.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, May 29th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.04 by $0.11. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. On average, analysts expect that Chewy, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headinvest LLC bought a new position in shares of Chewy during the 3rd quarter worth approximately $39,000. Quest Partners LLC acquired a new position in Chewy during the fourth quarter worth $65,000. Signaturefd LLC boosted its stake in shares of Chewy by 37.8% in the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after purchasing an additional 922 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Chewy by 15.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock worth $95,000 after purchasing an additional 543 shares during the last quarter. Finally, EntryPoint Capital LLC increased its position in shares of Chewy by 18.0% during the 1st quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock worth $65,000 after purchasing an additional 619 shares in the last quarter. Institutional investors own 93.09% of the company’s stock.

Wall Street Analyst Weigh In

CHWY has been the topic of a number of research analyst reports. Bank of America lowered their price objective on shares of Chewy from $17.00 to $16.50 and set an “underperform” rating on the stock in a research report on Thursday, March 21st. Piper Sandler upped their price target on shares of Chewy from $16.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Morgan Stanley increased their price objective on Chewy from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Jefferies Financial Group lowered their target price on Chewy from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Finally, UBS Group raised their price target on Chewy from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Chewy has an average rating of “Moderate Buy” and an average price target of $26.50.

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.