Chewy chief accounting officer sells $110,745 in stock

Chewy Inc.'s Chief Accounting Officer, William G. Billings, sold 4,815 shares of the company's Class A common stock on November 4, 2026. The transaction, executed under a Rule 10b5-1 plan, took place at a price of $23.0 per share, amounting to a total of $110,745. This sale occurred as Chewy shares declined 38% from their 52-week high, although the stock experienced an 8% increase over the preceding week.

InvestingPro analysis suggests the stock is undervalued at its current level, placing it on the platform's most undervalued stocks list. Chewy's market capitalization stands at $9.24 billion. Following the share sale, Mr. Billings retains 36,595 shares of Class A common stock, along with contingent rights to a range of restricted stock units and performance-based restricted stock units.

His total beneficial ownership now amounts to 136,595 shares of Class A common stock. Despite Chewy's recent positive earnings report, which surpassed consensus expectations and resulted in EBITDA exceeding estimates by 8%, financial analysts have taken cautious stances. JPMorgan downgraded Chewy's stock rating from Overweight to Neutral, attributing the move to ongoing macroeconomic challenges that threaten organic growth.

Similarly, TD Cowen reduced its price target for Chewy from $34 to $32 while maintaining a Buy rating. Goldman Sachs noted the company's confidence in gaining market share despite industry pressure, while Piper Sandler highlighted concerns in the veterinary sector that could impact Chewy due to projected declines in veterinary visits through 2027.

These developments illustrate the intricate challenges Chewy faces amidst broader economic pressures.