Home Analysts Viewpoint Chewy Inc. [CHWY] stock for 475,371 USD was sold by Singh Sumit

Chewy Inc. [CHWY] stock for 475,371 USD was sold by Singh Sumit

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Chewy Inc. [CHWY] stock for 475,371 USD was sold by Singh Sumit

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Chewy Inc. shares valued at $475,371 were sold by Singh Sumit on Aug 25. At $40.46 per share, Singh Sumit sold 11,748 shares. The insider’s holdings dropped to 47,613 shares worth approximately $1.69 million following the completion of this transaction.


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Also, Singh Sumit sold 10,460 shares, netting a total of over 515,592 in proceeds. Following the sale of shares at $49.29 each, the insider now holds 59,361 shares.

Before that, Singh Sumit had sold 217,986 shares from its account. In a trade valued at $10,743,933, the Chief Executive Officer traded Chewy Inc. shares for $49.29 each. Upon closing the transaction, the insider’s holdings decreased to 217,986 shares, worth approximately $17.89 million.

As published in their initiating research note from Oppenheimer on October 07, 2022, Chewy Inc. [CHWY] has been an Outperform and the price target has been revised to $42. This represents a 15.6% premium over Thursday’s closing price. Analysts at Wedbush downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in late July. As of June 27, 2022, Needham has increased its “Hold” rating to a “Buy” for CHWY. Earlier on June 21, 2022, Wedbush upgraded its rating. Their new recommendation was “an Outperform” for CHWY stock which previously was a “a Neutral”.

Analyzing CHWY Stock Performance

On Thursday, Chewy Inc. [NYSE: CHWY] rose 0.23% to $35.45. The stock’s lowest price that day was $35.11, but it reached a high of $36.41 in the same session. During the last five days, there has been a drop of approximately -10.23%. Over the course of the year, Chewy Inc. shares have dropped approximately -39.88%. Shares of the company reached a 52-week high of $60.51 on 01/03/22 and a 52-week low of $22.22 on 05/24/22. A 50-day SMA is recorded $35.40, while a 200-day SMA reached $38.14. Nevertheless, trading volume fell to 3.03 million shares from 3.31 million shares the previous day.

Support And Resistance Levels for Chewy Inc. (CHWY)

According to the 24-hour chart, there is a support level at 34.90, which, if violated, would cause prices to drop to 34.36. In the upper region, resistance lies at 36.20. The next price resistance is at 36.96. RSI (Relative Strength Index) is 46.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.18, which suggests the price will decrease in the coming days. Percent R is at 79.97%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Chewy Inc. subject to short interest?

Stocks of Chewy Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.56 million shares to 19.93 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 20.49 million shares. A decline of -2.81% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.44 of the overall float, the days-to-cover ratio (short ratio) decline to 3.44.

Which companies own the most shares of Chewy Inc. (CHWY)?

According to Morgan Stanley Investment Managem filings, the company currently owns 20,240,082 shares, which is about 18.15% of the total CHWY shares outstanding. The investor’s shares have plunged by -77,980 from its previous 13-F filing of 20318062.0 shares. With the completion of the buy transaction, Baillie Gifford & Co.’s stake is now worth $510,645,565. The Vanguard Group, Inc. acquire a 2.72% interest valued at $218.75 million while Brown Advisory LLC sold a -785,283 stake. A total of -848,233 shares of Chewy Inc. were sold by Wellington Management Co. LLP during the quarter, and 635,675 were bought by Columbia Management Investment Ad. In its current portfolio, Two Sigma Investments LP holds 2,188,285 shares valued at $67.22 million.

In terms of Chewy Inc. share price expectations, FactSet research, analysts set an average price target of $43.75 in the next 12 months, up nearly 20.16% from the previous closing price of $35.37. Analysts anticipate Chewy Inc. stock to reach $57.00 by 2022, with the lowest price target being $24.00. In spite of this, 25 analysts ranked Chewy Inc. stock as an Overweight at the end of 2022. On March 11, 2022, Deutsche Bank assigned a price target of “a Buy” to the stock and initiated coverage with a $55.

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