Chewy chief accounting officer sells $110,745 in stock
Investing.com ·
Chewy chief accounting officer sells $110,745 in stock
William G. Billings, Chief Accounting Officer at Chewy, Inc. (NASDAQ:CHWY), sold 4,815 shares of the company’s Class A common stock on November 4, 2026. The shares were sold at a price of $23.0 each, totaling $110,745. This transaction was executed under a Rule 10b5-1 trading plan that Mr. Billings adopted on June 30, 2026.The sale comes as Chewy shares trade 38% below their 52-week high, though the stock posted an 8% gain over the past week. According to InvestingPro analysis, the stock appears undervalued at current levels, landing it on the platform’s most undervalued stocks list. The company maintains a market capitalization of $9.24 billion.
Following the sale, Mr. Billings directly holds 36,595 shares of Class A common stock. His beneficial ownership also includes contingent rights to various restricted stock units (RSUs) and performance-based restricted stock units (PRSUs). These include 32,571 RSUs, 14,470 PRSUs, 18,161 RSUs, 18,920 RSUs, and 15,861 RSUs, each representing a contingent right to receive one share of Class A common stock, subject to their respective vesting conditions.For deeper insights into Chewy’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available for this and 1,400+ other US equities on InvestingPro.
In other recent news, Chewy Inc. reported its second-quarter fiscal 2026 revenue, which slightly exceeded consensus expectations. The company’s EBITDA also surpassed estimates by about 8%, attributed to one-time items, according to TD Cowen. Despite these positive earnings results, JPMorgan downgraded Chewy’s stock from Overweight to Neutral, citing ongoing macroeconomic challenges that are pressuring organic growth. The firm also reduced its price target from $29.00 to $24.00, noting continued pressure on discretionary spending and premiumization. Similarly, TD Cowen adjusted its price target for Chewy from $34 to $32, although it maintained a Buy rating. Goldman Sachs shared insights from a recent retail conference, where Chewy’s CEO expressed confidence in gaining market share despite a stable but pressured industry backdrop. Meanwhile, Piper Sandler highlighted challenges in the veterinary sector, which could impact related companies like Chewy, due to expected declines in veterinary visits through 2027. These developments reflect the complex landscape Chewy navigates amid broader industry and economic pressures.
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