Chewy (NYSE:CHWY) Stock: Insider William Billings Sells 17,283 Shares

Key Points

• Chewy CAO William Billings sold 17,283 shares at an average price of $21, generating $362,943. The Rule 10b5-1 transaction reduced his ownership by 30.29%, leaving him with 39,772 shares.
• Chewy shares recently traded near $20.96, with the stock down from its 52-week high of $38.25. The company reported quarterly EPS of $0.36, beating estimates by $0.18, while revenue rose 7.3% year over year to $3.33 billion.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $30.45. Institutional investors own 93.09% of Chewy’s outstanding shares.

Chewy (NYSE:CHWY - Get Free Report) CAO William Billings sold 17,283 shares of the business's stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $21.00, for a total transaction of $362,943.00. Following the sale, the chief accounting officer owned 39,772 shares of the company's stock, valued at approximately $835,212. This represents a 30.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chewy Stock Performance

Shares of CHWY stock traded down $0.35 on Friday, reaching $20.96. The stock had a trading volume of 7,678,915 shares, compared to its average volume of 8,673,609. The stock has a market cap of $8.43 billion, a P/E ratio of 31.76, a price-to-earnings-growth ratio of 0.87 and a beta of 1.38. Chewy has a 1 year low of $17.40 and a 1 year high of $38.25. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.42 and a current ratio of 0.84. The company has a 50 day simple moving average of $21.28 and a 200 day simple moving average of $22.01.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CHWY. Parallel Advisors LLC lifted its holdings in Chewy by 106.8% during the first quarter. Parallel Advisors LLC now owns 1,584 shares of the company's stock valued at $43,000 after purchasing an additional 818 shares in the last quarter. Root Financial Partners LLC boosted its position in shares of Chewy by 137.0% in the first quarter. Root Financial Partners LLC now owns 2,969 shares of the company's stock worth $80,000 after purchasing an additional 1,716 shares during the period. GAMMA Investing LLC increased its stake in shares of Chewy by 157.1% in the third quarter. GAMMA Investing LLC now owns 5,721 shares of the company's stock worth $104,000 after purchasing an additional 3,496 shares in the last quarter. Globeflex Capital L P purchased a new stake in shares of Chewy in the second quarter worth $109,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in shares of Chewy by 25.0% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,500 shares of the company's stock worth $122,000 after purchasing an additional 900 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Robert W. Baird decreased their price target on shares of Chewy from $30.00 to $28.00 and set an "outperform" rating on the stock in a research report on Thursday, September 10th. Zacks Research raised shares of Chewy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Royal Bank Of Canada reduced their price objective on Chewy from $34.00 to $31.00 and set an "outperform" rating for the company in a research note on Thursday, September 10th. Mizuho decreased their target price on Chewy from $32.00 to $28.00 and set an "outperform" rating on the stock in a report on Tuesday, September 29th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Chewy in a report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $30.45.

About Chewy

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

The company also offers prescription and over-the-counter medications through Chewy Pharmacy, as well as pet health products and related services. Its Autoship program allows customers to schedule recurring deliveries of regularly purchased items, while customer support and other digital features are designed to support pet owners throughout the pet-care lifecycle.

Chewy was founded in 2011 by Ryan Cohen and Michael Day and was acquired by PetSmart in 2017.

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