Chewy Target of Unusually Large Options Trading (NYSE:CHWY)

Chewy, Inc. (NYSE:CHWY - Get Free Report) saw some unusual options trading on Friday. Stock investors purchased 39,060 call options on the company. This is an increase of 65% compared to the typical volume of 23,729 call options.

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 571,903 shares of the business's stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $34.52, for a total value of $19,742,091.56. Following the transaction, the chief executive officer now directly owns 898,222 shares of the company's stock, valued at $31,006,623.44. The trade was a 38.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Satish Mehta sold 168,105 shares of the firm's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $36.32, for a total value of $6,105,573.60. Following the sale, the chief technology officer now directly owns 417,857 shares of the company's stock, valued at $15,176,566.24. This represents a 28.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,726,333 shares of company stock valued at $312,843,856. 2.10% of the stock is currently owned by company insiders.

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Institutional Investors Weigh In On Chewy

Several large investors have recently modified their holdings of CHWY. Banque Transatlantique SA acquired a new position in shares of Chewy in the 4th quarter valued at approximately $30,000. Fifth Third Bancorp lifted its stake in Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company's stock valued at $33,000 after buying an additional 444 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock valued at $58,000 after buying an additional 320 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Chewy during the third quarter worth $63,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Chewy during the fourth quarter worth $67,000. 93.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CHWY. Royal Bank of Canada raised their price objective on shares of Chewy from $39.00 to $42.00 and gave the company an "outperform" rating in a research report on Thursday, December 5th. Wedbush restated an "outperform" rating and issued a $39.00 price objective on shares of Chewy in a research report on Monday, March 17th. The Goldman Sachs Group increased their price objective on Chewy from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. UBS Group boosted their target price on Chewy from $30.00 to $34.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Finally, Mizuho upgraded Chewy from a "neutral" rating to an "outperform" rating and raised their price target for the company from $24.00 to $42.00 in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Chewy presently has an average rating of "Moderate Buy" and a consensus target price of $37.95.

Chewy Stock Up 0.4 %

Shares of CHWY traded up $0.15 during trading hours on Monday, reaching $34.01. The stock had a trading volume of 5,936,060 shares, compared to its average volume of 7,475,303. The firm has a 50-day moving average of $36.22 and a 200 day moving average of $33.08. The company has a market cap of $13.85 billion, a P/E ratio of 37.37, a P/E/G ratio of 2.21 and a beta of 1.23. Chewy has a 52 week low of $14.69 and a 52 week high of $40.09.

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.