Sumit Singh Sells 83,306 Shares of Chewy (NYSE:CHWY) Stock

Key Points

• Sumit Singh sold 83,306 shares of Chewy on May 4 at an average price of $25.60 (about $2.13M) under a Rule 10b5-1 plan to cover tax withholding from vested equity, cutting his stake by 8.7% to 874,061 shares (≈$22.38M).
• Chewy missed quarterly EPS ( $0.09 vs. $0.28 expected) while reporting $3.26B in revenue (flat year-over-year); the company has a $10.22B market cap and an average analyst rating of “Moderate Buy” with a $42.91 price target.

Chewy (NYSE:CHWY - Get Free Report) CEO Sumit Singh sold 83,306 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $25.60, for a total transaction of $2,132,633.60. Following the completion of the transaction, the chief executive officer owned 874,061 shares of the company's stock, valued at approximately $22,375,961.60. The trade was a 8.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sumit Singh also recently made the following trade(s):

• On Monday, May 4th, Sumit Singh sold 4,220 shares of Chewy stock. The stock was sold at an average price of $25.60, for a total transaction of $108,032.00.

Chewy Trading Down 0.2%

Shares of CHWY traded down $0.04 during midday trading on Tuesday, hitting $24.52. The stock had a trading volume of 5,541,182 shares, compared to its average volume of 8,041,535. The firm has a market cap of $10.22 billion, a P/E ratio of 47.16, a price-to-earnings-growth ratio of 1.11 and a beta of 1.50. The business has a 50-day simple moving average of $25.99 and a two-hundred day simple moving average of $30.11. Chewy has a fifty-two week low of $22.74 and a fifty-two week high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings results on Wednesday, March 25th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.19). The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.26 billion. Chewy had a return on equity of 53.48% and a net margin of 1.77%.The business's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. On average, analysts expect that Chewy will post 0.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chewy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHWY. Quent Capital LLC bought a new position in Chewy during the third quarter valued at approximately $27,000. CoreCap Advisors LLC raised its position in Chewy by 306.3% during the fourth quarter. CoreCap Advisors LLC now owns 845 shares of the company's stock valued at $28,000 after acquiring an additional 637 shares in the last quarter. Harbour Investments Inc. raised its position in shares of Chewy by 81.4% in the fourth quarter. Harbour Investments Inc. now owns 907 shares of the company's stock valued at $30,000 after purchasing an additional 407 shares during the period. Osterweis Capital Management Inc. bought a new position in shares of Chewy in the second quarter valued at approximately $30,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Chewy in the fourth quarter valued at approximately $31,000. Institutional investors own 93.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CHWY shares. Piper Sandler restated an "overweight" rating on shares of Chewy in a report on Thursday, February 5th. Argus upgraded shares of Chewy to a "strong-buy" rating in a report on Tuesday, April 7th. Citigroup decreased their price target on shares of Chewy from $42.00 to $40.00 and set a "buy" rating for the company in a report on Friday, March 27th. BNP Paribas Exane restated a "neutral" rating and set a $28.00 price target (down from $38.00) on shares of Chewy in a report on Thursday, March 26th. Finally, Wall Street Zen upgraded shares of Chewy from a "hold" rating to a "buy" rating in a report on Saturday, February 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Chewy presently has an average rating of "Moderate Buy" and an average price target of $42.91.

About Chewy

Chewy, Inc NYSE: CHWY is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.

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