Chewy (NYSE:CHWY) Shares Down 3% After Insider Selling

Chewy, Inc. (NYSE:CHWY) shares traded down 3% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $24.07 and last traded at $24.12. 7,767,203 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 10,759,772 shares. The stock had previously closed at $24.87.

Specifically, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $30.32, for a total value of $40,576,103.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $30.32, for a total value of $40,576,103.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Satish Mehta sold 8,019 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $121,247.28. Following the completion of the sale, the chief technology officer now directly owns 569,594 shares of the company’s stock, valued at $8,612,261.28. The disclosure for this sale can be found here. In the last three months, insiders sold 18,942,371 shares of company stock valued at $541,393,732. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CHWY. Royal Bank of Canada cut their target price on Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. JMP Securities reissued a “market outperform” rating and set a $28.00 target price on shares of Chewy in a research note on Friday, March 15th. Evercore ISI increased their target price on Chewy from $19.00 to $22.00 and gave the stock an “in-line” rating in a research note on Friday, May 31st. Wedbush upped their price target on Chewy from $28.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Finally, Mizuho upped their price target on Chewy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, June 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $26.50.

Chewy Price Performance

The firm has a 50-day simple moving average of $20.21 and a 200 day simple moving average of $19.04. The company has a market capitalization of $10.49 billion, a PE ratio of 134.00, a price-to-earnings-growth ratio of 4.14 and a beta of 1.03.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.04 by $0.11. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. Equities research analysts expect that Chewy, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Trading of Chewy

Large investors have recently modified their holdings of the business. Headinvest LLC acquired a new position in Chewy in the third quarter worth about $39,000. Quest Partners LLC acquired a new position in Chewy in the fourth quarter valued at approximately $65,000. Future Financial Wealth Managment LLC acquired a new position in Chewy in the first quarter valued at approximately $65,000. EntryPoint Capital LLC boosted its stake in Chewy by 18.0% in the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after acquiring an additional 619 shares during the period. Finally, Signaturefd LLC boosted its stake in Chewy by 37.8% in the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after acquiring an additional 922 shares during the period. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Company Profile

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.