Wealthfront Advisers LLC Makes New Investment in Chewy, Inc. (NYSE:CHWY)

Wealthfront Advisers LLC purchased a new stake in Chewy, Inc. (NYSE:CHWY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,373,625 shares of the company's stock, valued at approximately $46,003,000. Wealthfront Advisers LLC owned about 0.34% of Chewy as of its most recent SEC filing.

Several other large investors have also modified their holdings of CHWY. Mutual of America Capital Management LLC acquired a new stake in Chewy during the 4th quarter worth $2,915,000. Eagle Asset Management Inc. grew its position in Chewy by 97.9% in the 3rd 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 during the last quarter. Centiva Capital LP acquired a new stake in shares of Chewy in the 3rd quarter worth $2,949,000. Geode Capital Management LLC lifted its position in Chewy by 8.4% in the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company's stock valued at $45,443,000 after purchasing an additional 119,633 shares during the period. Finally, Birch Hill Investment Advisors LLC purchased a new stake in Chewy in the 4th quarter valued at approximately $1,174,000. Institutional investors and hedge funds own 93.09% of the company's stock.

Chewy Stock Performance

Shares of CHWY opened at $31.76 on Tuesday. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of 34.90, a PEG 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. The company's 50 day simple moving average is $36.71 and its 200 day simple moving average is $32.69.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CHWY shares. UBS Group increased their target price on Chewy from $30.00 to $34.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. increased their price objective on Chewy from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Argus upgraded shares of Chewy from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. BNP Paribas downgraded shares of Chewy from an "outperform" rating to a "neutral" rating in a report on Thursday, December 5th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Chewy in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.30.

Remove Ads

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $31.32, for a total transaction of $620,989,219.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 9,285 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $371,400.00. Following the completion of the sale, the chief executive officer now directly owns 489,750 shares of the company's stock, valued at $19,590,000. This represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,624,736 shares of company stock worth $936,145,808. 2.10% of the stock is currently owned by insiders.

Chewy Company 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.

Want to see what other hedge funds are holding CHWY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chewy, Inc. (NYSE:CHWY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.