Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh Sells 120,000 Shares


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Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 120,000 shares of the stock in a transaction on Friday, January 8th. The stock was sold at an average price of $97.82, for a total value of $11,738,400.00. Following the completion of the sale, the chief executive officer now directly owns 241,286 shares in the company, valued at $23,602,596.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Tuesday, December 15th, Sumit Singh sold 148,444 shares of Chewy stock. The stock was sold at an average price of $84.70, for a total value of $12,573,206.80.

Chewy stock opened at $112.46 on Thursday. The firm’s 50 day simple moving average is $88.95 and its 200-day simple moving average is $65.25. The company has a market cap of $46.41 billion, a P/E ratio of -261.53 and a beta of 0.26. Chewy, Inc. has a fifty-two week low of $20.62 and a fifty-two week high of $114.24.

Chewy (NYSE:CHWY) last released its earnings results on Monday, December 7th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.05. The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.73 billion. The business’s revenue was up 44.9% on a year-over-year basis. During the same period last year, the business earned ($0.20) earnings per share. As a group, research analysts predict that Chewy, Inc. will post -0.34 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on the company. Wedbush increased their target price on Chewy from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 9th. Royal Bank of Canada upped their price objective on shares of Chewy from $85.00 to $113.00 and gave the stock an “outperform” rating in a report on Thursday, December 17th. Morgan Stanley raised their target price on shares of Chewy from $49.00 to $77.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 9th. They noted that the move was a valuation call. Credit Suisse Group upped their price target on shares of Chewy from $104.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Barclays raised their price objective on shares of Chewy from $60.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 9th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Chewy currently has an average rating of “Buy” and a consensus target price of $77.00.

Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in Chewy by 41.0% in the third quarter. Parallel Advisors LLC now owns 774 shares of the company’s stock worth $42,000 after acquiring an additional 225 shares in the last quarter. Castle Rock Wealth Management LLC grew its position in Chewy by 2.1% in the third quarter. Castle Rock Wealth Management LLC now owns 12,690 shares of the company’s stock worth $821,000 after acquiring an additional 264 shares in the last quarter. Fifth Third Bancorp grew its position in Chewy by 34.0% in the third quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock worth $59,000 after acquiring an additional 275 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in Chewy by 2.3% in the third quarter. Stratos Wealth Partners LTD. now owns 13,163 shares of the company’s stock worth $722,000 after acquiring an additional 300 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Chewy by 49.1% in the second quarter. PNC Financial Services Group Inc. now owns 1,215 shares of the company’s stock worth $54,000 after acquiring an additional 400 shares in the last quarter. 97.55% of the stock is currently owned by institutional investors and hedge funds.

About Chewy

Chewy, Inc, together with its subsidiaries, engages in the pure-play e-commerce business in the United States. The company 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 chewy.com retail Website, as well as its mobile applications.

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Insider Buying and Selling by Quarter for Chewy (NYSE:CHWY)

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