Insider Selling: Chewy, Inc. (NYSE:CHWY) CTO Sells 71,365 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the transaction, the chief technology officer now owns 262,853 shares in the company, valued at approximately $9,357,566.80. This trade represents a 21.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Satish Mehta also recently made the following trade(s):

• On Thursday, January 30th, Satish Mehta sold 83,639 shares of Chewy stock. The shares were sold at an average price of $40.00, for a total value of $3,345,560.00.
• On Monday, January 13th, Satish Mehta sold 168,105 shares of Chewy stock. The shares were sold at an average price of $36.32, for a total transaction of $6,105,573.60.

Chewy Stock Performance

CHWY traded down $1.56 during midday trading on Monday, hitting $31.76. The stock had a trading volume of 6,645,850 shares, compared to its average volume of 4,938,535. The business has a fifty day moving average of $36.76 and a 200 day moving average of $32.66. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.09. The company has a market cap of $12.93 billion, a P/E ratio of 34.90, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23.

Hedge Funds Weigh In On Chewy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Banque Transatlantique SA bought a new position in Chewy in the fourth quarter worth $30,000. Fifth Third Bancorp raised its stake in shares of Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after acquiring an additional 320 shares during the last quarter. Planning Capital Management Corp bought a new position in shares of Chewy during the 3rd quarter valued at $52,000. Finally, Allworth Financial LP grew its stake in shares of Chewy by 52.0% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after purchasing an additional 650 shares during the period. Institutional investors own 93.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CHWY. Argus upgraded Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Wedbush reaffirmed an “outperform” rating and set a $39.00 price target (up from $35.00) on shares of Chewy in a report on Thursday, December 5th. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and increased their price objective for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. boosted their target price on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group increased their price target on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.30.

About Chewy

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.