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 firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $35.82, for a total transaction of $312,601.14. Following the completion of the transaction, the chief technology officer directly owned 276,467 shares in the company, valued at $9,903,047.94. This trade represents a 3.06% decrease in their position. The sale 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 transaction of $212,246.19.

Chewy Price Performance

Chewy stock traded up $0.37 during trading on Friday, reaching $36.17. 6,866,067 shares of the company were exchanged, compared to its average volume of 5,748,035. Chewy has a 52-week low of $23.42 and a 52-week high of $48.62. The company has a market capitalization of $15.02 billion, a P/E ratio of 40.64, a PEG ratio of 7.54 and a beta of 1.67. The stock's 50 day simple moving average is $40.36 and its two-hundred day simple moving average is $37.97.

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 analysts' consensus estimates of $0.34 by $0.01. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The business had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.08 billion. During the same period in the previous year, the firm posted $0.31 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. As a group, equities analysts forecast that Chewy will post 0.24 earnings per share for the current year.

Analysts Set New Price Targets

CHWY has been the subject of a number of analyst reports. Cowen reaffirmed a "buy" rating on shares of Chewy in a research note on Friday, June 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a research note on Thursday, June 12th. Mizuho downgraded shares of Chewy from an "outperform" rating to a "neutral" rating and increased their target price for the company from $43.00 to $47.00 in a research report on Monday, June 9th. Evercore ISI set a $52.00 target price on shares of Chewy and gave the company an "outperform" rating in a research report on Thursday, June 12th. Finally, Citizens Jmp upgraded Chewy to a "strong-buy" rating in a report on Thursday, July 10th. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Chewy presently has an average rating of "Moderate Buy" and a consensus price target of $43.78.

Institutional Investors Weigh In On Chewy

A number of large investors have recently bought and sold shares of CHWY. BC Partners PE LP purchased a new position in shares of Chewy in the 1st quarter worth $7,142,402,000. Durable Capital Partners LP purchased a new stake in shares of Chewy during the fourth quarter worth about $79,050,000. Invesco Ltd. increased its position in shares of Chewy by 4,577.5% during the fourth quarter. Invesco Ltd. now owns 2,191,146 shares of the company's stock worth $73,381,000 after acquiring an additional 2,144,302 shares during the last quarter. Geode Capital Management LLC grew its stake in Chewy by 88.1% in the second quarter. Geode Capital Management LLC now owns 4,076,911 shares of the company's stock worth $174,097,000 after purchasing an additional 1,909,457 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Chewy in the first quarter worth about $61,390,000. Institutional investors and hedge funds own 93.09% of the company's stock.

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.