Chewy (NYSE:CHWY) Shares Down 10.3% - Should You Sell?

Shares of Chewy, Inc. (NYSE:CHWY - Get Free Report) traded down 10.3% on Tuesday . The stock traded as low as $32.90 and last traded at $32.20. 1,278,957 shares traded hands during trading, a decline of 72% from the average session volume of 4,550,236 shares. The stock had previously closed at $35.90.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CHWY shares. Evercore ISI upgraded shares of Chewy from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $34.00 to $47.00 in a research report on Monday, January 13th. Robert W. Baird lifted their price target on shares of Chewy from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Monday, November 25th. UBS Group upped their price objective on Chewy from $30.00 to $34.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Piper Sandler raised their target price on Chewy from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, December 2nd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $39.00 price target (up previously from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $37.30.

Chewy Trading Down 4.7 %

The firm has a market cap of $12.93 billion, a PE ratio of 34.90, a PEG ratio of 2.21 and a beta of 1.23. The firm has a 50 day moving average price of $36.76 and a 200-day moving average price of $32.66.

Insiders Place Their Bets

In other news, CTO Satish Mehta sold 71,365 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the completion of the transaction, the chief technology officer now directly owns 262,853 shares of the company's stock, valued at approximately $9,357,566.80. This represents a 21.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. Insiders sold 28,624,736 shares of company stock worth $936,145,808 in the last 90 days. Corporate insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Banque Transatlantique SA acquired a new position in Chewy in the fourth quarter valued at $30,000. Fifth Third Bancorp grew its stake in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after buying an additional 444 shares during the last quarter. Planning Capital Management Corp acquired a new position in Chewy during the third quarter worth approximately $52,000. Blue Trust Inc. increased its position in Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock worth $58,000 after buying an additional 320 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Chewy in the third quarter valued at approximately $63,000. Institutional investors and hedge funds own 93.09% of the company's stock.

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.