Advisory Services Network LLC Purchases Shares of 14,088 Chewy, Inc. (NYSE:CHWY)

Advisory Services Network LLC bought a new stake in Chewy, Inc. (NYSE:CHWY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 14,088 shares of the company's stock, valued at approximately $472,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock valued at $485,093,000 after purchasing an additional 3,493,926 shares during the period. Invesco Ltd. raised its holdings in shares of Chewy by 4,577.5% during the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company's stock valued at $73,381,000 after buying an additional 2,144,302 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Chewy during the 4th quarter valued at about $69,789,000. Wealthfront Advisers LLC acquired a new position in Chewy during the 4th quarter worth approximately $46,003,000. Finally, FMR LLC grew its position in Chewy by 32.4% in the fourth quarter. FMR LLC now owns 5,288,757 shares of the company's stock valued at $177,120,000 after acquiring an additional 1,293,428 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.

Insider Buying and Selling

In other news, CTO Satish Mehta sold 71,365 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the transaction, the chief technology officer now directly owns 262,853 shares in the company, valued at $9,357,566.80. This trade represents a 21.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sumit Singh sold 9,285 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $371,400.00. Following the sale, the chief executive officer now directly owns 489,750 shares in the company, valued at approximately $19,590,000. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 551,303 shares of company stock valued at $20,752,583 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Chewy Stock Performance

Shares of CHWY traded up $2.12 during midday trading on Tuesday, hitting $36.00. 6,031,085 shares of the stock traded hands, compared to its average volume of 7,411,321. The business's 50 day moving average price is $34.14 and its two-hundred day moving average price is $33.63. The firm has a market capitalization of $14.89 billion, a PE ratio of 39.56, a price-to-earnings-growth ratio of 2.21 and a beta of 1.68. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09.

Chewy (NYSE:CHWY - Get Free Report) last posted its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the business posted $0.07 EPS. Chewy's revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts forecast that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CHWY shares. Wolfe Research raised shares of Chewy from a "peer perform" rating to an "outperform" rating in a report on Friday, January 3rd. Guggenheim set a $42.00 price target on Chewy and gave the stock a "buy" rating in a research note on Tuesday, February 4th. The Goldman Sachs Group upped their target price on Chewy from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Barclays raised their price target on shares of Chewy from $40.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Finally, Citigroup upped their price target on shares of Chewy from $40.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $38.47.

About Chewy

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.