Chewy Inc. [CHWY] Chief Executive Officer makes an insider sale of 11,748 shares worth $0.48 million.


In a filing, Chewy Inc. revealed its Chief Executive Officer Singh Sumit unloaded Company’s shares for reported $0.48 million on Aug 25. In the deal valued at $40.46 per share,11,748 shares were sold. As a result of this transaction, Singh Sumit now holds 47,613 shares worth roughly $ 1.68 million.

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Then, Singh Sumit sold 10,460 shares, generating $515,592 in total proceeds. Upon selling the shares at $49.29, the Chief Executive Officer now owns 59,361 shares.

Before that, Singh Sumit sold 217,986 shares. Chewy Inc. shares valued at $10,743,933 were divested by the Chief Executive Officer at a price of $49.29 per share. As a result of the transaction, Singh Sumit now holds 504,715 shares, worth roughly $17.85 million.

Oppenheimer initiated its Chewy Inc. [CHWY] rating to an Outperform in a research note published on Monday, October 07, 2022; the price target was $42. PT values the company’s stock at a premium of 15.79 to its Monday closing price. A number of analysts have revised their coverage, including Wedbush’s analysts, who decreased its forecast for the stock in late July from “an Outperform” to “a Neutral”. Needham also remained covering CHWY and has increased its forecast on June 27, 2022 with a “Buy” recommendation from previously “Hold” rating. Wedbush revised its rating on June 21, 2022. It rated CHWY as “an Outperform” which previously was an “a Neutral”.

Price Performance Review of CHWY

On Monday, Chewy Inc. [NYSE:CHWY] saw its stock jump 4.43% to $35.37. On the same session, the stock had its day’s lowest price of $32.7538, but rose to a high of $35.46. Over the last five days, the stock has lost -8.68%. Chewy Inc. shares have fallen nearly -40.02% since the year began. Nevertheless, the stocks have fallen -52.46% over the past one year. While a 52-week high of $79.16 was reached on 01/03/22, a 52-week low of $22.22 was recorded on 05/24/22. SMA at 50 days reached $35.22, while 200 days put it at $38.09. A total of 4.48 million shares were traded, compared to the trading of 1.41 million shares in the previous session.

Levels Of Support And Resistance For CHWY Stock

The 24-hour chart illustrates a support level at 33.60, which if violated will result in even more drops to 31.82. On the upside, there is a resistance level at 36.30. A further resistance level may holdings at 37.23. The Relative Strength Index (RSI) on the 14-day chart is 46.85, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.30, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 65.03%. Stochastics %K at 24.97% indicates the stock is a holding.

How much short interest is there in Chewy Inc.?

A steep rise in short interest was recorded in Chewy Inc. stocks on Jul 14, 2022, dropping by -0.56 million shares to a total of 19.93 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 20.49 million shares. There was a decline of -2.81%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 34.63% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.44.

Chewy Inc. [CHWY] – Who Are The Largest Shareholders?

In filings from Morgan Stanley Investment Managem, it is revealed that the company now owns 20,240,082 shares, or roughly 18.15% of the outstanding CHWY shares. In other words, the investor’s shares have fallen by -77,980 from its previous 13-F filing of 20318062.0. Additionally, Baillie Gifford & Co. increased 0.54% of its stake after which the total value it holdings stand at $510,645,565, while The Vanguard Group, Inc. added 2.72% of its stake to hold $218.75 million in the firm. Over the last quarter, Brown Advisory LLC sold -785,283 shares of Chewy Inc., while Wellington Management Co. LLP sold -848,233 shares. At present, Columbia Management Investment Ad is holding 2,856,504 shares valued at $87.75 million. Two Sigma Investments LP owned 2,188,285 shares of the company at the time of its most recent 13F filing, worth $67.22 million.

According to FactSet, Chewy Inc.’s share price will average $43.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 25.48 percent from its previous closing price of $33.87. Analysts expect Chewy Inc. stock to reach the higher price of $57.00, while the lowest price estimate is $24.00. However, 25 analysts have rated CHWY stock as an Overweight in their predictions for 2022. The most recent change occurred on March 11, 2022 when Deutsche Bank began covering the stock and recommended ‘”a Buy”‘ rating along with a $55 price target.


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