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 $124,609 were sold by Bowman Stacy on Apr 02 ’24. At $15.53 per share, Bowman Stacy sold 8,025 shares. The insider’s holdings dropped to 243,769 shares worth approximately $4.52 million following the completion of this transaction.
Also, Singh Sumit sold 6,728 shares, netting a total of over 104,470 in proceeds. Following the sale of shares at $15.53 each, the insider now holds 129,991 shares.
Before that, Bowman Stacy had sold 604 shares from its account. In a trade valued at $10,748, the Chief Accounting Officer traded Chewy Inc shares for $17.79 each. Upon closing the transaction, the insider’s holdings decreased to 604 shares, worth approximately $4.07 million.
As published in their initiating research note from Mizuho on March 19, 2024, Chewy Inc [CHWY] has been a Neutral and the price target has been revised to $18. Analysts at Barclays upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid January. Earlier on December 19, 2023, Jefferies initiated its rating. Their recommendation was “a Buy” for CHWY stock.
Analyzing CHWY Stock Performance
During the last five days, there has been a surge of approximately 13.19%. Over the course of the year, Chewy Inc shares have dropped approximately -21.54%. Shares of the company reached a 52-week high of $23.54 on 01/02/24 and a 52-week low of $15.08 on 03/26/24. A 50-day SMA is recorded $16.99, while a 200-day SMA reached $22.23. Nevertheless, trading volume fell to 19.19 million shares from 6.76 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 17.87, which, if violated, would cause prices to drop to 17.21. In the upper region, resistance lies at 18.95. The next price resistance is at 19.36. RSI (Relative Strength Index) is 62.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.39, which suggests the price will increase in the coming days. Percent R is at 4.16%, indicating bullish price movement. Stochastics %K at selling 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 Mar 15, 2024 dropping by -0.33 million shares to 20.38 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 20.71 million shares. A decline of -1.62% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.66 of the overall float, the days-to-cover ratio (short ratio) decline to 2.66.
