Envestnet Asset Management Inc. trimmed its stake in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 202,465 shares of the company's stock after selling 16,427 shares during the period. Envestnet Asset Management Inc.'s holdings in Chewy were worth $6,781,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of CHWY. Motley Fool Asset Management LLC bought a new position in Chewy in the fourth quarter valued at about $201,000. Trexquant Investment LP increased its position in shares of Chewy by 23.3% during the fourth quarter. Trexquant Investment LP now owns 568,688 shares of the company's stock worth $19,045,000 after buying an additional 107,603 shares during the period. Headlands Technologies LLC bought a new position in Chewy during the fourth quarter worth $239,000. Geode Capital Management LLC lifted its stake in shares of Chewy by 23.9% in the 4th quarter. Geode Capital Management LLC now owns 1,921,737 shares of the company's stock valued at $64,389,000 after purchasing an additional 370,893 shares during the period. Finally, StoneX Group Inc. bought a new stake in shares of Chewy in the 4th quarter valued at $551,000. 93.09% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Chewy
In other news, CFO David Reeder sold 307,558 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $37.48, for a total transaction of $11,527,273.84. Following the completion of the sale, the chief financial officer now owns 546,257 shares of the company's stock, valued at $20,473,712.36. The trade was a 36.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sumit Singh sold 8,552 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total value of $285,209.20. Following the completion of the transaction, the chief executive officer now directly owns 62,096 shares in the company, valued at $2,070,901.60. This trade represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 537,831 shares of company stock valued at $20,246,710. Corporate insiders own 2.10% of the company's stock.
Analyst Ratings Changes
CHWY has been the subject of several research reports. Barclays raised their target price on Chewy from $40.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Wedbush reiterated an "outperform" rating and set a $39.00 price target on shares of Chewy in a report on Thursday, March 27th. Needham & Company LLC reissued a "hold" rating on shares of Chewy in a research report on Thursday, March 27th. Royal Bank of Canada restated an "outperform" rating and set a $42.00 price target on shares of Chewy in a research note on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft set a $27.00 target price on Chewy and gave the stock a "hold" rating in a research report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $38.47.
Get Our Latest Stock Analysis on Chewy
Chewy Price Performance
NYSE:CHWY traded down $0.63 during mid-day trading on Wednesday, reaching $35.39. 11,693,236 shares of the company's stock traded hands, compared to its average volume of 7,428,393. The firm has a market capitalization of $14.64 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 2.21 and a beta of 1.68. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.09. The company has a 50 day moving average price of $34.14 and a 200-day moving average price of $33.63.
Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.25. The business had revenue of $3.25 billion for the quarter, compared to analysts' expectations of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business's revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 EPS. As a group, analysts forecast that Chewy, Inc. will post 0.24 EPS for the current year.
About Chewy
(
Free Report)
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.
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