Chewy, Inc. (NYSE:CHWY) CTO Sells $269,634.32 in Stock

Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta sold 8,056 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the sale, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at approximately $19,612,148.14. The trade was a 1.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Chewy Price Performance

NYSE CHWY traded down $0.77 on Wednesday, reaching $32.85. 15,736,476 shares of the company’s stock traded hands, compared to its average volume of 8,624,959. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10. The stock has a market cap of $13.73 billion, a PE ratio of 37.35, a P/E/G ratio of 3.15 and a beta of 1.12. The stock has a 50-day simple moving average of $30.31 and a 200 day simple moving average of $26.99.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) earnings per share. As a group, analysts anticipate that Chewy, Inc. will post 0.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CHWY. Evercore ISI boosted their price target on Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Royal Bank of Canada upped their price target on Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. UBS Group increased their target price on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Finally, Barclays lifted their target price on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.80.

Hedge Funds Weigh In On Chewy

Hedge funds and other institutional investors have recently modified their holdings of the stock. BC Partners Advisors L.P. bought a new stake in Chewy in the second quarter worth $7,517,800,000. Marshall Wace LLP lifted its holdings in shares of Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after purchasing an additional 2,636,526 shares in the last quarter. FMR LLC boosted its position in shares of Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after buying an additional 2,497,689 shares during the last quarter. Fiera Capital Corp bought a new stake in Chewy in the 2nd quarter worth about $44,373,000. Finally, Clearbridge Investments LLC purchased a new position in Chewy in the 2nd quarter worth about $40,798,000. Hedge funds and other institutional investors 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.