Chewy Inc (NYSE:CHWY) shares shot up 5.1% on Friday . The company traded as high as $35.40 and last traded at $35.00. 5,156,952 shares traded hands during trading, a decline of 27% from the average session volume of 7,064,309 shares. The stock had previously closed at $33.31.
Separately, Wedbush initiated coverage on shares of Chewy in a report on Thursday, June 20th. They set a “neutral” rating on the stock.
In other news, major shareholder Argos Holdings Gp Llc sold 47,875,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $20.90, for a total value of $1,000,587,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mario Jesus Marte acquired 15,000 shares of Chewy stock in a transaction dated Tuesday, June 18th. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $330,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 152,500 shares of company stock worth $3,355,000.
Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company provides pet food, pet products, pet medications, and other pet health products for dogs, cats, fish, birds, small pets, horses, and reptiles through its chewy.com retail Website, as well as its mobile applications.
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