Diversified Investment Strategies LLC Trims Stake in Chewy, Inc. (NYSE:CHWY)

Diversified Investment Strategies LLC lessened its position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 64.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,325 shares of the company's stock after selling 15,000 shares during the quarter. Diversified Investment Strategies LLC's holdings in Chewy were worth $279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHWY. Eagle Asset Management Inc. increased its position in shares of Chewy by 97.9% in the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company's stock worth $60,485,000 after acquiring an additional 975,647 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Chewy in the second quarter valued at approximately $673,000. Centiva Capital LP acquired a new position in shares of Chewy during the third quarter valued at $2,949,000. Geode Capital Management LLC lifted its stake in shares of Chewy by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company's stock worth $45,443,000 after acquiring an additional 119,633 shares during the period. Finally, Simplify Asset Management Inc. bought a new position in Chewy during the 3rd quarter valued at $5,379,000. Hedge funds and other institutional investors own 93.09% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CHWY shares. The Goldman Sachs Group boosted their target price on Chewy from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. JMP Securities reiterated a "market outperform" rating and set a $37.00 price objective on shares of Chewy in a report on Monday, December 16th. Citigroup raised shares of Chewy from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $28.00 to $40.00 in a research report on Friday, November 8th. Mizuho raised Chewy from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $24.00 to $42.00 in a research report on Monday, January 6th. Finally, Wolfe Research upgraded shares of Chewy from a "peer perform" rating to an "outperform" rating in a report on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat.com, Chewy has an average rating of "Moderate Buy" and an average price target of $36.80.

Insider Buying and Selling

In related news, CEO Sumit Singh sold 13,472 shares of Chewy stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $37.55, for a total value of $505,873.60. Following the sale, the chief executive officer now directly owns 505,109 shares in the company, valued at approximately $18,966,842.95. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Satish Mehta sold 168,105 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $36.32, for a total transaction of $6,105,573.60. Following the completion of the sale, the chief technology officer now owns 417,857 shares of the company's stock, valued at approximately $15,176,566.24. The trade was a 28.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,103,513 shares of company stock worth $916,453,941 in the last three months. Corporate insiders own 2.10% of the company's stock.

Chewy Stock Down 0.1 %

NYSE:CHWY traded down $0.02 during trading hours on Wednesday, hitting $38.86. 2,709,126 shares of the stock traded hands, compared to its average volume of 5,444,040. The stock has a 50 day moving average price of $34.74 and a 200 day moving average price of $30.29. The company has a market cap of $15.82 billion, a price-to-earnings ratio of 42.70, a price-to-earnings-growth ratio of 4.16 and a beta of 1.10. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.62.

Chewy (NYSE:CHWY - Get Free Report) last announced its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Equities analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

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.