Chewy, Inc. (NYSE:CHWY) CEO Sells $2,312,732.50 in Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 71,161 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 77,838 shares in the company, valued at $2,529,735. This trade represents a 47.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Chewy Stock Performance

Shares of CHWY stock opened at $35.01 on Thursday. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $39.10. The stock has a market capitalization of $14.26 billion, a PE ratio of 38.47, a PEG ratio of 4.28 and a beta of 1.12. The stock’s fifty day moving average is $31.35 and its 200-day moving average is $28.37.

Chewy (NYSE:CHWY) last issued its quarterly earnings data 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 firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same quarter in the prior year, the firm earned ($0.08) EPS. The company’s revenue was up 5.2% on a year-over-year basis. As a group, analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CHWY. BC Partners Advisors L.P. acquired a new stake in shares of Chewy in the 2nd quarter valued at $7,517,800,000. Marshall Wace LLP increased its position in Chewy by 1,028.6% in the second 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 period. FMR LLC increased its position in 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 purchasing an additional 2,497,689 shares during the period. Fiera Capital Corp acquired a new position in Chewy during the 2nd quarter valued at about $44,373,000. Finally, Clearbridge Investments LLC acquired a new position in Chewy during the 2nd quarter valued at about $40,798,000. Institutional investors own 93.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CHWY shares. UBS Group boosted 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Barclays increased their target price on shares of Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. JMP Securities restated a “market outperform” rating and set a $37.00 price target on shares of Chewy in a research note on Monday, December 16th. Finally, Royal Bank of Canada lifted their price objective on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Chewy has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

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.