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.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Chewy, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Chewy wasn’t on the list.
While Chewy currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.