Chewy (NYSE:CHWY), the Florida-based online retailer of pet food and other pet-related products, saw its stock climb about 1% in pre-market Friday trade.
In a recent Form 4 filing, James Star, a Director at Chewy, revealed the acquisition of 15,353 common shares on December 12, 2023, for $19.6048 per share. The total value of this purchase amounted to $300,992.50.
Following this transaction, James Star's direct ownership in Chewy stands at 129,548 shares. Additionally, he holds an indirect interest through ownership of 325,987 shares through various means, including 3,523 shares indirectly held and 4,880 shares indirectly held.
Chewy also held its first Investor Day yesterday, where it updated its long-term financial targets and expanded the pet health TAM with Chewy Vet Care, which is expected to launch in 2024.
“We view the guidance of high-single digit CAGR over the next few years (with more of a skew to NSPAC growth vs. net adds and 2024 as having lower growth than HSD CAGR) as likely to remain as an overhang on CHWY shares in the near-term,” analysts at Goldman Sachs said in a client note.
Chewy stock is down 45.5% year-to-date.