Chewy, Inc. (NYSE:CHWY – Get Rating)’s stock price was down 3.8% during trading on Thursday following insider selling activity. The stock traded as low as $46.32 and last traded at $46.42. Approximately 11,546 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 3,836,545 shares. The stock had previously closed at $48.25.Specifically, Director James A. Star bought 36,127 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was purchased at an average cost of $27.71 per share, with a total value of $1,001,079.17. Following the acquisition, the director now directly owns 110,949 shares in the company, valued at $3,074,396.79. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Chewy news, CEO Sumit Singh sold 217,986 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $49.29, for a total transaction of $10,744,529.94. Following the transaction, the chief executive officer now owns 504,715 shares in the company, valued at $24,877,402.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James A. Star acquired 36,127 shares of the company’s stock in a transaction on Monday, June 6th. The stock was acquired at an average cost of $27.71 per share, for a total transaction of $1,001,079.17. Following the completion of the acquisition, the director now owns 110,949 shares of the company’s stock, valued at approximately $3,074,396.79. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 580,777 shares of company stock valued at $20,865,839. 1.80% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on CHWY. Morgan Stanley dropped their price target on shares of Chewy from $62.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Friday, June 3rd. Barclays lifted their target price on shares of Chewy from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, June 2nd. Evercore ISI upped their price target on shares of Chewy to $58.00 in a research report on Friday, June 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Chewy from $55.00 to $35.00 in a research note on Wednesday, May 25th. Finally, Wedbush lowered Chewy from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $35.00 to $44.00 in a research note on Tuesday, July 26th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.72.
Chewy Stock Performance
The stock has a market cap of $19.24 billion, a PE ratio of -209.78 and a beta of 0.39. The company’s 50-day moving average price is $39.57 and its 200 day moving average price is $38.70.
Chewy (NYSE:CHWY – Get Rating) last posted its earnings results on Wednesday, June 1st. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.16. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.41 billion. Chewy had a negative return on equity of 175.48% and a negative net margin of 1.02%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. As a group, equities research analysts predict that Chewy, Inc. will post -0.35 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Chewy
A number of institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. increased its holdings in Chewy by 30.5% in the 2nd quarter. Baillie Gifford & Co. now owns 16,533,230 shares of the company’s stock valued at $574,035,000 after purchasing an additional 3,864,834 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Chewy by 7.8% in the first quarter. Brown Advisory Inc. now owns 7,622,982 shares of the company’s stock valued at $326,977,000 after buying an additional 552,115 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Chewy by 1.4% in the first quarter. Vanguard Group Inc. now owns 7,021,248 shares of the company’s stock valued at $286,326,000 after buying an additional 97,657 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Chewy by 19.0% in the 1st quarter. Wellington Management Group LLP now owns 5,369,539 shares of the company’s stock valued at $218,969,000 after buying an additional 856,909 shares during the period. Finally, BlackRock Inc. lifted its stake in Chewy by 5.1% during the 1st quarter. BlackRock Inc. now owns 2,329,086 shares of the company’s stock worth $94,981,000 after acquiring an additional 112,753 shares in the last quarter.
About Chewy
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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.