Satish Mehta Sells 8,019 Shares of Chewy, Inc. (NYSE:CHWY) Stock

Chewy, Inc. (NYSE:CHWY - Get Free Report) CTO Satish Mehta sold 8,019 shares of the firm's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $121,247.28. Following the completion of the sale, the chief technology officer now directly owns 569,594 shares of the company's stock, valued at approximately $8,612,261.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Chewy Stock Performance

Shares of CHWY traded up $0.07 during trading hours on Monday, hitting $15.98. 4,710,591 shares of the stock were exchanged, compared to its average volume of 8,770,600. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.78. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 199.77, a price-to-earnings-growth ratio of 8.28 and a beta of 0.91. The stock's 50-day moving average price is $16.61 and its two-hundred day moving average price is $18.51.

Chewy (NYSE:CHWY - Get Free Report) last issued its earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.09. The company had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.79 billion. Chewy had a return on equity of 11.69% and a net margin of 0.33%. On average, research analysts expect that Chewy, Inc. will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Chewy

Large investors have recently modified their holdings of the business. Headinvest LLC acquired a new position in Chewy during the 3rd quarter worth about $39,000. Quest Partners LLC acquired a new position in Chewy during the 4th quarter worth about $65,000. Signaturefd LLC lifted its stake in Chewy by 37.8% during the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company's stock worth $79,000 after acquiring an additional 922 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Chewy by 15.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company's stock worth $95,000 after acquiring an additional 543 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in Chewy during the 1st quarter worth about $65,000. Institutional investors and hedge funds own 93.09% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Bank of America lowered their price target on Chewy from $17.00 to $16.50 and set an "underperform" rating for the company in a report on Thursday, March 21st. Piper Sandler decreased their target price on Chewy from $19.00 to $16.00 and set a "neutral" rating for the company in a report on Tuesday, April 23rd. JPMorgan Chase & Co. decreased their target price on Chewy from $25.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, March 21st. The Goldman Sachs Group decreased their target price on Chewy from $36.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, March 21st. Finally, JMP Securities reissued a "market outperform" rating and issued a $28.00 price target on shares of Chewy in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Chewy currently has a consensus rating of "Moderate Buy" and an average target price of $27.50.

Chewy Company Profile

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.