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 that occurred on Wednesday, January 15th. The shares were 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 in the company, valued at approximately $19,973,799.30. The trade was a 17.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 shares were 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 shares were sold at an average price of $35.68, for a total transaction 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 transaction of $19,742,091.56.
• On Tuesday, December 24th, Sumit Singh sold 71,161 shares of Chewy stock. The stock was 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 transaction of $2,312,732.50.

Chewy Trading Down 0.8 %

Shares of NYSE:CHWY opened at $36.99 on Friday. The stock has a market capitalization of $15.06 billion, a P/E ratio of 40.64, a P/E/G ratio of 4.06 and a beta of 1.10. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10. The business has a 50-day moving average price of $33.97 and a two-hundred day moving average price of $29.59.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) EPS. As a group, equities analysts predict that Chewy, Inc. will post 0.24 EPS for the current year.

Hedge Funds Weigh In On Chewy

Several institutional investors have recently modified their holdings of CHWY. BC Partners Advisors L.P. acquired a new position in shares of Chewy during the 2nd quarter worth about $7,517,800,000. Marshall Wace LLP grew its position in shares of Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after buying an additional 2,636,526 shares during the period. FMR LLC grew its position in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after buying an additional 2,497,689 shares during the period. Clearbridge Investments LLC acquired a new position in shares of Chewy during the 2nd quarter worth about $40,798,000. Finally, Eagle Asset Management Inc. grew its position in shares of Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after buying an additional 975,647 shares during the period. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHWY has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $37.00 price objective on shares of Chewy in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday, November 22nd. Wedbush reiterated an “outperform” rating and set a $39.00 price target (up previously from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Evercore ISI upgraded shares of Chewy from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $34.00 to $47.00 in a research note on Monday, January 13th. Finally, Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $40.00 in a research note on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.80.

Chewy Company Profile

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.