Insider Selling: Chewy (NYSE:CHWY) CEO Sells 29,557 Shares of Stock

Key Points

• CEO Sumit Singh of Chewy sold 29,557 shares at an average price of $35.57, representing a 5.19% decrease in his ownership, bringing his total holdings to 540,406 shares.
• Chewy reported $3.12 billion in revenue for its latest quarter, exceeding analyst expectations, with earnings per share of $0.35, slightly beating the consensus estimate of $0.34.
• Several investment firms have upgraded their ratings on Chewy stock, with price targets ranging from $43.00 to $48.00, reflecting increasing optimism among analysts.

Chewy (NYSE:CHWY - Get Free Report) CEO Sumit Singh sold 29,557 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $35.57, for a total transaction of $1,051,342.49. Following the sale, the chief executive officer owned 540,406 shares in the company, valued at approximately $19,222,241.42. The trade was a 5.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, August 4th, Sumit Singh sold 4,264 shares of Chewy stock. The stock was sold at an average price of $35.57, for a total transaction of $151,670.48.
• On Wednesday, May 14th, Sumit Singh sold 148,063 shares of Chewy stock. The stock was sold at an average price of $40.67, for a total transaction of $6,021,722.21.
• On Tuesday, May 13th, Sumit Singh sold 50,743 shares of Chewy stock. The stock was sold at an average price of $40.09, for a total transaction of $2,034,286.87.

Chewy Stock Performance

NYSE CHWY traded up $0.37 on Friday, hitting $36.17. 6,866,067 shares of the stock were exchanged, compared to its average volume of 5,748,035. The stock has a fifty day moving average price of $40.36 and a two-hundred day moving average price of $37.97. The firm has a market capitalization of $15.02 billion, a P/E ratio of 40.64, a P/E/G ratio of 7.54 and a beta of 1.67. Chewy has a 52-week low of $23.42 and a 52-week 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 the consensus estimate of $0.34 by $0.01. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the company earned $0.31 earnings per share. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side analysts expect that Chewy will post 0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CHWY. Guggenheim reiterated a "buy" rating and set a $45.00 price objective (up previously from $42.00) on shares of Chewy in a research report on Thursday, June 12th. JMP Securities lifted their price objective on shares of Chewy from $39.00 to $48.00 and gave the company a "market outperform" rating in a research report on Thursday, July 10th. Jefferies Financial Group reiterated a "hold" rating and set a $43.00 price objective (up previously from $41.00) on shares of Chewy in a research report on Thursday, June 5th. UBS Group reiterated a "neutral" rating and set a $44.00 price objective on shares of Chewy in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, June 12th. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $43.78.

Institutional Trading of Chewy

Institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC raised its holdings in shares of Chewy by 150.2% in the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock valued at $26,000 after acquiring an additional 473 shares in the last quarter. Banque Transatlantique SA bought a new stake in shares of Chewy in the fourth quarter valued at about $30,000. Golden State Wealth Management LLC raised its holdings in shares of Chewy by 104.6% in the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after acquiring an additional 481 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Chewy in the first quarter valued at about $44,000. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Chewy by 34.5% in the second quarter. Parkside Financial Bank & Trust now owns 1,161 shares of the company's stock valued at $49,000 after acquiring an additional 298 shares in the last quarter. 93.09% of the stock is currently 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.