Sumit Singh Sells 114,130 Shares of Chewy, Inc. (NYSE:CHWY) Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 114,130 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $37.70, for a total transaction of $4,302,701.00. Following the transaction, the chief executive officer now directly owns 529,809 shares of the company’s stock, valued at $19,973,799.30. The trade was a 17.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Sumit Singh also recently made the following trade(s):

• On Monday, January 6th, Sumit Singh sold 63,187 shares of Chewy stock. The stock was sold at an average price of $37.62, for a total transaction of $2,377,094.94.
• On Friday, January 3rd, Sumit Singh sold 191,096 shares of Chewy stock. The stock was sold at an average price of $35.68, for a total value of $6,818,305.28.
• On Thursday, December 26th, Sumit Singh sold 571,903 shares of Chewy stock. The shares were sold at an average price of $34.52, for a total value of $19,742,091.56.
• On Tuesday, December 24th, Sumit Singh sold 71,161 shares of Chewy stock. The shares were sold at an average price of $35.00, for a total transaction of $2,490,635.00.
• On Thursday, December 19th, Sumit Singh sold 71,161 shares of Chewy stock. The stock was sold at an average price of $32.50, for a total value of $2,312,732.50.

Chewy Stock Down 0.8 %

Shares of NYSE:CHWY opened at $36.99 on Friday. The firm has a market cap of $15.06 billion, a price-to-earnings ratio of 40.64, a PEG ratio of 4.06 and a beta of 1.10. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10. The company’s fifty day simple moving average is $33.85 and its 200 day simple moving average is $29.51.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period in the previous year, the company posted ($0.08) earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped 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. Citigroup raised shares of Chewy from a “neutral” rating to a “buy” rating and raised their price target for the company from $28.00 to $40.00 in a report on Friday, November 8th. Barclays upped their price target on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Mizuho raised Chewy from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $24.00 to $42.00 in a report on Monday, January 6th. Finally, UBS Group raised their target price on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.80.

Hedge Funds Weigh In On Chewy

Several hedge funds have recently made changes to their positions in CHWY. Choreo LLC bought a new position in Chewy in the second quarter valued at $205,000. American Century Companies Inc. increased its position in shares of Chewy by 46.0% in the second quarter. American Century Companies Inc. now owns 29,111 shares of the company’s stock valued at $793,000 after acquiring an additional 9,166 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Chewy during the second quarter worth about $380,000. Envestnet Asset Management Inc. boosted its position in Chewy by 243.6% during the second quarter. Envestnet Asset Management Inc. now owns 165,662 shares of the company’s stock valued at $4,513,000 after purchasing an additional 117,454 shares during the last quarter. Finally, Moors & Cabot Inc. bought a new position in Chewy in the second quarter valued at approximately $271,000. 93.09% of the stock is owned by institutional investors.

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.