Securian Asset Management Inc. acquired a new position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,490 shares of the company's stock, valued at approximately $418,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHWY. FMR LLC boosted its stake in Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company's stock worth $117,023,000 after buying an additional 2,497,689 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Chewy during the fourth quarter worth $69,789,000. Wealthfront Advisers LLC acquired a new position in Chewy during the fourth quarter worth $46,003,000. Eagle Asset Management Inc. boosted its stake in Chewy by 97.9% during the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company's stock worth $60,485,000 after buying an additional 975,647 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Chewy by 134.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company's stock worth $54,281,000 after buying an additional 929,116 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.
Chewy Trading Up 4.8 %
Shares of CHWY traded up $1.54 during mid-day trading on Friday, hitting $33.86. The company's stock had a trading volume of 8,469,973 shares, compared to its average volume of 4,993,685. The firm has a 50-day simple moving average of $36.30 and a 200 day simple moving average of $32.92. The firm has a market capitalization of $13.79 billion, a P/E ratio of 37.21, a P/E/G ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09.
Analysts Set New Price Targets
CHWY has been the topic of several recent analyst reports. Morgan Stanley upped their price target on Chewy from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. JMP Securities reiterated a "market outperform" rating and issued a $37.00 price objective on shares of Chewy in a report on Monday, December 16th. UBS Group upped their target price on Chewy from $30.00 to $34.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. BNP Paribas cut Chewy from an "outperform" rating to a "neutral" rating in a research report on Thursday, December 5th. Finally, Argus raised Chewy from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Chewy currently has an average rating of "Moderate Buy" and an average target price of $37.30.
Read Our Latest Stock Analysis on CHWY
Insider Activity at Chewy
In other Chewy news, CEO Sumit Singh sold 571,903 shares of the firm's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $34.52, for a total transaction of $19,742,091.56. Following the completion of the transaction, the chief executive officer now owns 898,222 shares of the company's stock, valued at approximately $31,006,623.44. This trade represents a 38.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $35.77, for a total value of $250,390,000.00. The disclosure for this sale can be found here. Insiders sold 8,726,333 shares of company stock valued at $312,843,856 in the last ninety days. Corporate insiders own 2.10% of the company's stock.
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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