Chewy (NYSE:CHWY) Stock Price Up 3.4%

Shares of Chewy, Inc. (NYSE:CHWY) rose 3.4% on Tuesday . The stock traded as high as $17.19 and last traded at $17.13. Approximately 4,631,394 shares traded hands during trading, a decline of 49% from the average daily volume of 9,114,896 shares. The stock had previously closed at $16.57.

Analyst Ratings Changes

Several equities analysts have commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $28.00 target price on shares of Chewy in a research report on Friday, March 15th. The Goldman Sachs Group dropped their target price on Chewy from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. Jefferies Financial Group dropped their target price on Chewy from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of Chewy in a research report on Thursday, March 21st. Finally, Royal Bank of Canada decreased their price target on Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.64.

Chewy Price Performance

The stock has a fifty day moving average price of $16.90 and a two-hundred day moving average price of $18.72. The company has a market cap of $7.23 billion, a P/E ratio of 206.90, a price-to-earnings-growth ratio of 8.62 and a beta of 0.90.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. Chewy had a return on equity of 11.69% and a net margin of 0.33%. Equities analysts predict that Chewy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Chewy

In other Chewy news, CEO Sumit Singh sold 192,642 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $3,409,763.40. Following the sale, the chief executive officer now directly owns 1,307,025 shares in the company, valued at $23,134,342.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CTO Satish Mehta sold 40,523 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $717,257.10. Following the completion of the sale, the chief technology officer now owns 557,058 shares in the company, valued at approximately $9,859,926.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sumit Singh sold 192,642 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $3,409,763.40. Following the completion of the sale, the chief executive officer now owns 1,307,025 shares of the company’s stock, valued at approximately $23,134,342.50. The disclosure for this sale can be found here. Insiders have sold a total of 250,169 shares of company stock worth $4,396,079 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

Hedge funds have recently made changes to their positions in the business. CenterBook Partners LP purchased a new position in shares of Chewy during the third quarter valued at approximately $573,000. Rafferty Asset Management LLC grew its stake in Chewy by 29.9% in the third quarter. Rafferty Asset Management LLC now owns 19,677 shares of the company’s stock worth $359,000 after purchasing an additional 4,524 shares during the period. Platinum Investment Management Ltd. purchased a new stake in Chewy in the third quarter worth $1,230,000. Victory Capital Management Inc. grew its stake in Chewy by 364.2% in the third quarter. Victory Capital Management Inc. now owns 57,662 shares of the company’s stock worth $1,053,000 after purchasing an additional 45,240 shares during the period. Finally, Marathon Trading Investment Management LLC purchased a new stake in Chewy in the third quarter worth $1,076,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.