Insider Selling: Chewy (NYSE:CHWY) CAO Sells 20,142 Shares of Stock

Key Points

• Chewy's CAO, William G. Billings, sold 20,142 shares of the company's stock for approximately $716,450.94, representing a 40.60% decrease in his position.
• After the sale, Billings still holds 29,464 shares valued at around $1,048,034.48.
• Chewy's stock recently experienced a price increase of 1.2%, closing at $34.69 with a significant trading volume of 4,473,603 shares.

Chewy (NYSE:CHWY - Get Free Report) CAO William G. Billings sold 20,142 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $35.57, for a total value of $716,450.94. Following the sale, the chief accounting officer directly owned 29,464 shares of the company's stock, valued at approximately $1,048,034.48. This represents a 40.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Chewy Stock Performance

Shares of Chewy stock traded up $0.37 during trading on Friday, reaching $36.17. The company's stock had a trading volume of 6,866,067 shares, compared to its average volume of 5,748,035. The business's fifty day moving average price is $40.36 and its 200-day moving average price is $37.97. The firm has a market cap of $15.02 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 7.54 and a beta of 1.67. Chewy has a one year low of $23.42 and a one year high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last released its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.08 billion. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The firm's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.31 earnings per share. Sell-side analysts anticipate that Chewy will post 0.24 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on CHWY shares. UBS Group reaffirmed a "neutral" rating and issued a $44.00 target price on shares of Chewy in a research report on Tuesday. Barclays raised their target price on Chewy from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a research report on Thursday, June 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $44.00 target price (up previously from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Finally, JMP Securities raised their target price on Chewy from $39.00 to $48.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 10th. Nine equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.78.

Institutional Investors Weigh In On Chewy

Institutional investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. acquired a new stake in Chewy during the first quarter valued at approximately $3,251,000. D.A. Davidson & CO. boosted its holdings in Chewy by 38.7% during the first quarter. D.A. Davidson & CO. now owns 43,725 shares of the company's stock valued at $1,422,000 after purchasing an additional 12,206 shares in the last quarter. Polar Asset Management Partners Inc. boosted its holdings in Chewy by 26.5% during the fourth quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company's stock valued at $9,670,000 after purchasing an additional 60,533 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Chewy by 74.5% during the first quarter. Victory Capital Management Inc. now owns 139,889 shares of the company's stock valued at $4,548,000 after purchasing an additional 59,711 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Chewy during the first quarter valued at approximately $11,326,000. 93.09% of the stock is 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. 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.