Globeflex Capital L P Buys New Stake in Chewy, Inc. (NYSE:CHWY)

Globeflex Capital L P acquired a new position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 28,447 shares of the company's stock, valued at approximately $953,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CHWY. Bank of New York Mellon Corp raised its holdings in Chewy by 9.8% during the fourth quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company's stock worth $150,345,000 after purchasing an additional 399,330 shares in the last quarter. FMR LLC increased its position in Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company's stock worth $117,023,000 after purchasing an additional 2,497,689 shares during the period. ArrowMark Colorado Holdings LLC raised its stake in shares of Chewy by 5.3% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company's stock worth $81,014,000 after buying an additional 138,768 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Chewy in the 4th quarter valued at approximately $69,789,000. Finally, Eagle Asset Management Inc. boosted its stake 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 valued at $60,485,000 after buying an additional 975,647 shares in the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHWY has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their target price on Chewy from $35.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Royal Bank of Canada boosted their price objective on shares of Chewy from $39.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday, December 5th. Wolfe Research raised shares of Chewy from a "peer perform" rating to an "outperform" rating in a report on Friday, January 3rd. Mizuho raised Chewy from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $24.00 to $42.00 in a research note on Monday, January 6th. Finally, UBS Group raised their price objective on Chewy from $30.00 to $34.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Chewy presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.30.

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Insider Transactions at Chewy

In other Chewy 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 sale, the chief technology officer now directly owns 262,853 shares in the company, valued at $9,357,566.80. This represents a 21.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sumit Singh sold 71,161 shares of the firm's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $35.00, for a total value of $2,490,635.00. Following the completion of the transaction, the chief executive officer now owns 6,677 shares in the company, valued at approximately $233,695. This trade represents a 91.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,797,494 shares of company stock worth $315,156,588 in the last three months. Company insiders own 2.10% of the company's stock.

Chewy Stock Performance

Chewy stock traded up $0.31 during trading on Wednesday, hitting $32.30. The company's stock had a trading volume of 3,848,450 shares, compared to its average volume of 7,667,480. The stock's fifty day moving average is $36.46 and its 200 day moving average is $32.92. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09. The stock has a market capitalization of $13.15 billion, a price-to-earnings ratio of 35.50, a P/E/G ratio of 2.21 and a beta of 1.23.

Chewy Profile

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.