Sumit Singh, the Chief Executive Officer of Chewy, Inc. (NYSE:CHWY), recently sold 71,161 shares of the company’s Class A common stock. The transaction, executed on December 24, 2024, was conducted at a price of $35.00 per share, bringing the total sale value to approximately $2.49 million. The sale comes as Chewy, currently valued at nearly $14 billion, has shown strong momentum with a 48% gain year-to-date, according to InvestingPro data. According to the filing, the shares were sold under a Rule 10b5-1 trading plan adopted by Singh’s spouse in September 2024. Following the sale, Singh’s indirect ownership, through his spouse, stands at 6,677 shares. InvestingPro analysis shows Chewy trading at elevated multiples with a P/E ratio of 36.45, while maintaining a "GOOD" overall financial health score. Discover more insights about CHWY and 1,400+ other stocks with InvestingPro’s comprehensive research reports.
In other recent news, Chewy Inc (NYSE:CHWY).’s largest shareholder, Buddy Chester Sub LLC, an affiliate of BC Partners, has initiated a public offering of $500 million worth of Chewy’s Class A common stock. In a separate transaction, Chewy has agreed to repurchase $50 million worth of Class A common stock from the selling shareholder, a transaction independent of Chewy’s ongoing $500 million share repurchase program. Analysts from RBC Capital and TD Cowen have maintained positive ratings on Chewy, citing positive trends in the pet industry and the company’s recent earnings that surpassed consensus estimates. RBC Capital has also named Chewy as one of their top stock picks in the U.S. Hardlines/Broadlines & Food Retail sector. Chewy’s third-quarter revenue came in at $2.88 billion, slightly exceeding the consensus of $2.86 billion, primarily due to a 9.9% year-over-year increase in Autoship customer sales. However, non-Autoship customer revenue declined by 13.4% year-over-year. These are some of the recent developments that have shaped Chewy’s current position in the market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.