Greenland Capital Management LP Makes New Investment in Chewy, Inc. (NYSE:CHWY)

Greenland Capital Management LP acquired a new stake in Chewy, Inc. (NYSE:CHWY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,627 shares of the company's stock, valued at approximately $490,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CHWY. Janus Henderson Group PLC raised its position in shares of Chewy by 98.2% during the third quarter. Janus Henderson Group PLC now owns 118,300 shares of the company's stock worth $3,466,000 after purchasing an additional 58,600 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Chewy in the 3rd quarter valued at about $210,000. Stifel Financial Corp increased its position in Chewy by 5.6% during the third quarter. Stifel Financial Corp now owns 378,339 shares of the company's stock worth $11,082,000 after buying an additional 19,938 shares during the last quarter. Wellington Management Group LLP raised its stake in Chewy by 22.0% in the 3rd quarter. Wellington Management Group LLP now owns 921,741 shares of the company's stock valued at $26,998,000 after acquiring an additional 166,187 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its position in shares of Chewy by 19.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 58,661 shares of the company's stock valued at $1,718,000 after purchasing an additional 9,548 shares during the period. 93.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CHWY has been the subject of several research reports. JMP Securities reissued a "market outperform" rating and set a $37.00 price target on shares of Chewy in a report on Monday, December 16th. Barclays upped their price target on shares of Chewy from $40.00 to $44.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Wedbush reiterated an "outperform" rating and issued a $39.00 target price on shares of Chewy in a research report on Thursday, March 27th. Citigroup boosted their target price on shares of Chewy from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Finally, Guggenheim set a $42.00 price objective on shares of Chewy and gave the company a "buy" rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $38.47.

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Insiders Place Their Bets

In other news, CEO Sumit Singh sold 8,552 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total transaction of $285,209.20. Following the completion of the transaction, the chief executive officer now owns 62,096 shares in the company, valued at approximately $2,070,901.60. This represents a 12.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Satish Mehta sold 168,105 shares of Chewy stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $36.32, for a total transaction of $6,105,573.60. Following the completion of the transaction, the chief technology officer now owns 417,857 shares of the company's stock, valued at $15,176,566.24. The trade was a 28.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 837,538 shares of company stock valued at $31,310,938 in the last three months. 2.10% of the stock is currently owned by insiders.

Chewy Trading Up 6.6 %

CHWY stock traded up $2.16 during trading on Friday, reaching $34.74. 7,821,089 shares of the stock were exchanged, compared to its average volume of 7,478,083. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $40.09. The firm's 50 day moving average is $34.54 and its 200 day moving average is $33.36. The firm has a market cap of $14.37 billion, a P/E ratio of 38.17, a price-to-earnings-growth ratio of 2.21 and a beta of 1.68.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.25. The firm had revenue of $3.25 billion during the quarter, compared to analysts' expectations of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business's revenue was up 15.0% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. As a group, analysts predict 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.