Chewy (NYSE:CHWY) CEO Sumit Singh Sells 23,002 Shares of Company Stock

Key Points

• Chewy CEO Sumit Singh sold 23,002 shares at an average $21.40, worth about $492,243; the sale was made under a pre-arranged Rule 10b5-1 plan. He retained 899,118 shares after the transaction.
• Chewy reported quarterly EPS of $0.36, beating the $0.18 consensus estimate, while revenue of $3.33 billion topped forecasts slightly and grew 7.3% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $30.45; the stock was trading at $23.36 in the article.

Chewy (NYSE:CHWY - Get Free Report) CEO Sumit Singh sold 23,002 shares of Chewy stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $21.40, for a total transaction of $492,242.80. Following the completion of the sale, the chief executive officer directly owned 899,118 shares in the company, valued at approximately $19,241,125.20. The trade was a 2.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, November 2nd, Sumit Singh sold 3,228 shares of Chewy stock. The shares were sold at an average price of $21.40, for a total value of $69,079.20.

Chewy Price Performance

Shares of NYSE:CHWY traded up $1.31 on Wednesday, reaching $23.36. 8,546,168 shares of the company were exchanged, compared to its average volume of 8,569,400. Chewy has a 1-year low of $17.40 and a 1-year high of $37.34. The company has a current ratio of 0.84, a quick ratio of 0.42 and a debt-to-equity ratio of 1.59. The firm has a market cap of $9.39 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 0.93 and a beta of 1.33. The company has a 50-day moving average of $20.85 and a 200-day moving average of $23.25.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.18 by $0.18. Chewy had a return on equity of 60.88% and a net margin of 2.09%. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the previous year, the company earned $0.33 EPS. The company's quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts forecast that Chewy will post 0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CHWY has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on Chewy from $34.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, September 11th. Weiss Ratings upgraded Chewy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, September 28th. Morgan Stanley decreased their target price on shares of Chewy from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Thursday, September 10th. Rosenblatt Securities lowered their target price on Chewy from $25.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, September 10th. Finally, Citizens Jmp restated a "market outperform" rating and issued a $28.00 price target on shares of Chewy in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.45.

Institutional Trading of Chewy

Several hedge funds have recently added to or reduced their stakes in the business. Van Berkom & Associates Inc. bought a new stake in shares of Chewy during the 3rd quarter valued at $52,181,000. Pictet Asset Management Holding SA boosted its position in shares of Chewy by 6.3% in the 3rd quarter. Pictet Asset Management Holding SA now owns 36,327 shares of the company's stock worth $661,000 after purchasing an additional 2,150 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of Chewy during the third quarter worth $555,000. Kestra Advisory Services LLC grew its stake in shares of Chewy by 20.4% during the third quarter. Kestra Advisory Services LLC now owns 120,780 shares of the company's stock worth $2,198,000 after purchasing an additional 20,461 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Chewy during the third quarter worth $233,000. Institutional investors own 93.09% of the company's stock.

About Chewy

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile platforms, the company sells pet food, treats, toys, supplies, and accessories for dogs, cats, fish, birds, reptiles, and other household pets.

Chewy also offers pet medications and veterinary-related products through its online pharmacy, as well as services such as Autoship subscriptions, which allow customers to schedule recurring deliveries. Its assortment includes national brands and private-label products, and the company emphasizes customer service, convenience, and personalized recommendations.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated as an online pet-food retailer before expanding into a broader pet-commerce platform.

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