Chewy (NYSE:CHWY) Trading Down 6.4% Following Insider Selling

Chewy, Inc. (NYSE:CHWY) shares fell 6.4% during trading on Thursday following insider selling activity. The company traded as low as $31.13 and last traded at $31.34. 2,490,196 shares changed hands during trading, a decline of 71% from the average session volume of 8,602,123 shares. The stock had previously closed at $33.47.

Specifically, CTO Satish Mehta sold 8,056 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the transaction, the chief technology officer now directly owns 585,962 shares in the company, valued at $19,612,148.14. This trade represents a 1.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

CHWY has been the subject of a number of recent research reports. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Wedbush reiterated an “outperform” rating and set a $39.00 price target (up previously from $35.00) on shares of Chewy in a report on Thursday. Morgan Stanley raised their price objective on Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. The Goldman Sachs Group upped their target price on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada raised their price target on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.15.

Chewy Price Performance

The company has a market cap of $12.99 billion, a P/E ratio of 37.88, a price-to-earnings-growth ratio of 3.15 and a beta of 1.12. The company has a 50 day moving average of $30.42 and a 200-day moving average of $27.06.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) EPS. Research analysts anticipate that Chewy, Inc. will post 0.33 EPS for the current year.

Institutional Trading of Chewy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BC Partners Advisors L.P. bought a new position in shares of Chewy during the second quarter valued at about $7,517,800,000. Marshall Wace LLP boosted its holdings in Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after acquiring an additional 2,636,526 shares during the period. FMR LLC grew its position in Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after acquiring an additional 2,497,689 shares during the last quarter. Fiera Capital Corp bought a new stake in Chewy in the second quarter valued at approximately $44,373,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of Chewy during the second quarter valued at approximately $40,798,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

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.