Insider Selling: Chewy, Inc. (NYSE:CHWY) CEO Sells 155,250 Shares of Stock
Chewy, Inc. (NYSE:CHWY – Get Rating) CEO Sumit Singh sold 155,250 shares of the business’s stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $27.18, for a total transaction of $4,219,695.00. Following the transaction, the chief executive officer now owns 722,701 shares in the company, valued at approximately $19,643,013.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of CHWY stock traded down $0.81 during mid-day trading on Thursday, hitting $28.43. 5,394,889 shares of the stock traded hands, compared to its average volume of 5,574,165. The stock has a market cap of $11.95 billion, a P/E ratio of -123.61 and a beta of 0.77. The stock’s fifty day moving average is $30.54 and its two-hundred day moving average is $42.39. Chewy, Inc. has a 52-week low of $22.22 and a 52-week high of $97.74.
Chewy (NYSE:CHWY – Get Rating) last released its quarterly earnings results on Wednesday, June 1st. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.17. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.41 billion. Chewy had a negative net margin of 1.02% and a negative return on equity of 175.48%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. As a group, sell-side analysts expect that Chewy, Inc. will post -0.35 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. increased its holdings in shares of Chewy by 69.5% during the fourth quarter. Baillie Gifford & Co. now owns 13,302,667 shares of the company’s stock valued at $784,458,000 after acquiring an additional 5,455,428 shares in the last quarter. Brown Advisory Inc. increased its holdings in shares of Chewy by 7.8% during the first quarter. Brown Advisory Inc. now owns 7,622,982 shares of the company’s stock valued at $326,977,000 after acquiring an additional 552,115 shares in the last quarter. Vanguard Group Inc. increased its holdings in Chewy by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 7,021,248 shares of the company’s stock worth $286,326,000 after buying an additional 97,657 shares during the period. Wellington Management Group LLP increased its holdings in Chewy by 19.0% in the 1st quarter. Wellington Management Group LLP now owns 5,369,539 shares of the company’s stock worth $218,969,000 after buying an additional 856,909 shares during the period. Finally, BlackRock Inc. increased its holdings in Chewy by 5.1% in the 1st quarter. BlackRock Inc. now owns 2,329,086 shares of the company’s stock worth $94,981,000 after buying an additional 112,753 shares during the period.
A number of research firms have weighed in on CHWY. The Goldman Sachs Group cut their price objective on shares of Chewy from $59.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, June 6th. UBS Group cut their price objective on shares of Chewy from $42.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 31st. Wells Fargo & Company lowered their target price on shares of Chewy from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, June 3rd. Wedbush lowered their target price on shares of Chewy to $30.00 in a research note on Friday, June 3rd. Finally, Citigroup lowered their target price on shares of Chewy from $45.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, June 2nd. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Chewy presently has an average rating of “Buy” and a consensus price target of $55.05.
Chewy Company Profile (Get Rating)
Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company 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 www.chewy.com retail Website, as well as its mobile applications.
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