Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 46,090 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 46,090 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $696,880.80. Following the completion of the sale, the chief executive officer now directly owns 1,379,100 shares in the company, valued at approximately $20,851,992. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, April 2nd, Sumit Singh sold 6,728 shares of Chewy stock. The stock was sold at an average price of $15.53, for a total value of $104,485.84.
• On Monday, March 4th, Sumit Singh sold 527 shares of Chewy stock. The shares were sold at an average price of $17.79, for a total transaction of $9,375.33.

Chewy Stock Up 0.4 %

Shares of NYSE:CHWY opened at $15.98 on Tuesday. The company’s fifty day moving average is $16.61 and its two-hundred day moving average is $18.51. The company has a market cap of $6.95 billion, a P/E ratio of 199.77, a price-to-earnings-growth ratio of 8.28 and a beta of 0.91. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.78.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.09. Chewy had a return on equity of 11.69% and a net margin of 0.33%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. Equities research analysts anticipate that Chewy, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CHWY. JMP Securities reissued a “market outperform” rating and set a $28.00 target price on shares of Chewy in a research note on Friday, March 15th. Jefferies Financial Group reduced their price objective on Chewy from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. Bank of America lowered their target price on Chewy from $17.00 to $16.50 and set an “underperform” rating on the stock in a research report on Thursday, March 21st. JPMorgan Chase & Co. reduced their price objective on shares of Chewy from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Finally, Mizuho began coverage on shares of Chewy in a research note on Tuesday, March 19th. They set a “neutral” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

Institutional Trading of Chewy

A number of hedge funds have recently made changes to their positions in CHWY. SG Americas Securities LLC grew its position in Chewy by 40.5% during the first quarter. SG Americas Securities LLC now owns 42,029 shares of the company’s stock valued at $669,000 after purchasing an additional 12,118 shares in the last quarter. John G Ullman & Associates Inc. boosted its stake in shares of Chewy by 56.5% during the 1st quarter. John G Ullman & Associates Inc. now owns 164,189 shares of the company’s stock valued at $2,612,000 after buying an additional 59,300 shares during the period. GSA Capital Partners LLP grew its holdings in shares of Chewy by 256.6% during the 1st quarter. GSA Capital Partners LLP now owns 129,352 shares of the company’s stock valued at $2,058,000 after acquiring an additional 93,080 shares in the last quarter. Blume Capital Management Inc. increased its stake in shares of Chewy by 13,187.5% in the first quarter. Blume Capital Management Inc. now owns 21,260 shares of the company’s stock worth $338,000 after acquiring an additional 21,100 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Chewy during the first quarter worth $4,491,000. 93.09% of the stock is owned by hedge funds and other 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.