Satish Mehta Sells 8,727 Shares of Chewy (NYSE:CHWY) Stock

Key Points

• Satish Mehta, Chewy's CTO, sold 8,727 shares of the company's stock at an average price of $35.82, totaling approximately $312,601, which resulted in a 3.06% decrease in his ownership.
• Chewy's stock price increased by 1.2% to $34.69, with a market capitalization of $14.40 billion and a price-to-earnings ratio of 38.98.
• The company reported earnings of $0.35 per share, surpassing analyst expectations, and had revenue of $3.12 billion for the last quarter, marking a 6.3% year-over-year increase.

Chewy (NYSE:CHWY - Get Free Report) CTO Satish Mehta sold 8,727 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $35.82, for a total value of $312,601.14. Following the completion of the sale, the chief technology officer owned 276,467 shares of the company's stock, valued at approximately $9,903,047.94. This trade represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, August 4th, Satish Mehta sold 5,967 shares of Chewy stock. The shares were sold at an average price of $35.57, for a total value of $212,246.19.

Chewy Price 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 6,323,688. The business's fifty day moving average is $40.54 and its 200 day moving average is $37.97. The company has a market capitalization of $15.02 billion, a PE ratio of 40.64, a P/E/G ratio of 7.25 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 issued its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. Analysts predict that Chewy will post 0.24 EPS for the current fiscal year.

Institutional Trading of Chewy

Several hedge funds and other institutional investors have recently bought and sold shares of CHWY. Parkside Financial Bank & Trust lifted its position in Chewy by 34.5% during the second quarter. Parkside Financial Bank & Trust now owns 1,161 shares of the company's stock worth $49,000 after purchasing an additional 298 shares during the period. Liberty One Investment Management LLC increased its stake in Chewy by 4.7% in the first quarter. Liberty One Investment Management LLC now owns 7,051 shares of the company's stock valued at $229,000 after acquiring an additional 314 shares during the last quarter. North Star Investment Management Corp. raised its position in Chewy by 26.6% during the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock valued at $55,000 after purchasing an additional 353 shares in the last quarter. Federated Hermes Inc. raised its position in Chewy by 2.3% during the first quarter. Federated Hermes Inc. now owns 15,685 shares of the company's stock valued at $510,000 after purchasing an additional 354 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its stake in Chewy by 5.3% during the first quarter. Park Avenue Securities LLC now owns 7,281 shares of the company's stock worth $237,000 after purchasing an additional 364 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CHWY. Jefferies Financial Group restated a "hold" rating and set a $43.00 target price (up previously from $41.00) on shares of Chewy in a research note on Thursday, June 5th. Cowen reissued a "buy" rating on shares of Chewy in a research report on Friday, June 6th. Morgan Stanley reaffirmed an "overweight" rating and set a $50.00 target price (up previously from $39.00) on shares of Chewy in a research report on Thursday, June 12th. Citigroup reiterated an "outperform" rating on shares of Chewy in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Chewy from $36.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Nine investment 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.78.

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.