Chewy (NYSE:CHWY) CTO Sells $212,246.19 in Stock

Key Points

• Chewy's CTO, Satish Mehta, sold 5,967 shares at an average price of $35.57, resulting in a total transaction of approximately $212,246, decreasing his ownership by 2.05%.
• Chewy reported quarterly earnings of $0.35 EPS, surpassing expectations, and generated revenue of $3.12 billion, reflecting a 6.3% year-over-year increase.
• Analysts have set an average price target of $43.78, with a majority rating the stock as a "Moderate Buy."

Chewy (NYSE:CHWY - Get Free Report) CTO Satish Mehta sold 5,967 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $35.57, for a total transaction of $212,246.19. Following the sale, the chief technology officer directly owned 285,194 shares in the company, valued at approximately $10,144,350.58. This represents a 2.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Satish Mehta also recently made the following trade(s):

• On Tuesday, August 5th, Satish Mehta sold 8,727 shares of Chewy stock. The stock was sold at an average price of $35.82, for a total transaction of $312,601.14.

Chewy Trading Up 1.0%

Shares of NYSE CHWY traded up $0.37 during mid-day trading on Friday, reaching $36.17. 6,866,067 shares of the company's stock were exchanged, compared to its average volume of 6,323,688. The business has a fifty day simple moving average of $40.54 and a 200 day simple moving average of $37.97. Chewy has a twelve month low of $23.42 and a twelve month high of $48.62. The firm has a market capitalization of $15.02 billion, a price-to-earnings ratio of 40.64, a PEG ratio of 7.25 and a beta of 1.67.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm 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 company's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. Equities research analysts predict that Chewy will post 0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Guggenheim reissued a "buy" rating and issued a $45.00 target price (up from $42.00) on shares of Chewy in a research note on Thursday, June 12th. Mizuho lowered shares of Chewy from an "outperform" rating to a "neutral" rating and raised their target price for the company from $43.00 to $47.00 in a research note on Monday, June 9th. Needham & Company LLC reissued a "hold" rating on shares of Chewy in a research note on Thursday, June 12th. Citigroup restated an "outperform" rating on shares of Chewy in a report on Thursday, July 10th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $44.00 target price (up previously from $42.00) on shares of Chewy in a 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 given a strong buy rating to the company's stock. According to data from MarketBeat, Chewy presently has a consensus rating of "Moderate Buy" and an average price target of $43.78.

Institutional Trading of Chewy

A number of hedge funds and other institutional investors have recently made changes to their positions in CHWY. American Century Companies Inc. boosted its position in Chewy by 25.4% during the fourth quarter. American Century Companies Inc. now owns 11,710 shares of the company's stock valued at $392,000 after purchasing an additional 2,372 shares during the last quarter. LPL Financial LLC increased its stake in shares of Chewy by 0.6% during the fourth quarter. LPL Financial LLC now owns 120,669 shares of the company's stock worth $4,041,000 after purchasing an additional 771 shares during the period. Norges Bank acquired a new stake in shares of Chewy during the fourth quarter worth $3,007,000. Schroder Investment Management Group acquired a new position in shares of Chewy during the 4th quarter worth approximately $205,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Chewy in the fourth quarter valued at approximately $11,134,000. 93.09% of the stock is currently 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.