Insider Selling: Chewy (NYSE:CHWY) CEO Sells 83,306 Shares of Stock

Chewy (NYSE:CHWY) CEO Sumit Singh sold 83,306 shares of Chewy stock in a transaction that occurred on Monday, May 4th. The shares were 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 directly owned 874,061 shares in the company, valued at approximately $22,375,961.60. This represents a 8.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 shares were sold at an average price of $25.60, for a total transaction of $108,032.00.

Chewy Stock Down 0.2%

Shares of NYSE:CHWY traded down $0.04 during trading on Tuesday, reaching $24.52. The stock had a trading volume of 5,541,182 shares, compared to its average volume of 8,041,535. Chewy has a 52 week low of $22.74 and a 52 week high of $48.62. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 47.16, a P/E/G ratio of 1.11 and a beta of 1.50. The stock has a fifty day simple moving average of $25.99 and a two-hundred day simple moving average of $30.11.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.19). Chewy had a net margin of 1.77% and a return on equity of 53.48%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the business earned $0.28 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, analysts forecast that Chewy will post 0.89 EPS for the current year.

Hedge Funds Weigh In On Chewy

A number of institutional investors and hedge funds have recently bought and sold shares of CHWY. Quent Capital LLC bought a new position in Chewy during the third quarter worth $27,000. CoreCap Advisors LLC increased its position in Chewy by 306.3% during the fourth quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock worth $28,000 after acquiring an additional 637 shares during the period. Harbour Investments Inc. increased its position in Chewy by 81.4% during the fourth quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock worth $30,000 after acquiring an additional 407 shares during the period. Osterweis Capital Management Inc. acquired a new stake in Chewy during the second quarter worth $30,000. Finally, Los Angeles Capital Management LLC bought a new stake in Chewy in the 4th quarter valued at $31,000. Institutional investors own 93.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on CHWY shares. UBS Group dropped their price target on shares of Chewy from $42.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. Bank of America dropped their price target on shares of Chewy from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. TD Cowen boosted their target price on shares of Chewy from $39.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Citizens Jmp dropped their target price on shares of Chewy from $48.00 to $45.00 and set a “market outperform” rating on the stock in a research report on Thursday, March 26th. Finally, Wall Street Zen raised shares of Chewy from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Chewy presently has an average rating of “Moderate Buy” and an average price target of $42.91.

Chewy Company Profile

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.