Xponance Inc. Takes Position in Chewy, Inc. (NYSE:CHWY)

Xponance Inc. bought a new position in shares of Chewy, Inc. (NYSE:CHWY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,525 shares of the company’s stock, valued at approximately $386,000.

Several other large investors have also recently bought and sold shares of the stock. Mutual of America Capital Management LLC bought a new position in shares of Chewy during the 4th quarter worth about $2,915,000. Centiva Capital LP bought a new position in Chewy during the third quarter valued at about $2,949,000. Raymond James Financial Inc. acquired a new position in Chewy in the 4th quarter valued at approximately $69,789,000. Geode Capital Management LLC lifted its position in shares of Chewy by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after acquiring an additional 119,633 shares during the period. Finally, Birch Hill Investment Advisors LLC acquired a new stake in shares of Chewy during the 4th quarter worth approximately $1,174,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Stock Down 0.9 %

Shares of NYSE:CHWY opened at $33.30 on Thursday. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09. The firm has a market cap of $13.56 billion, a P/E ratio of 36.60, a P/E/G ratio of 2.21 and a beta of 1.23. The company’s 50-day moving average price is $36.09 and its two-hundred day moving average price is $33.14.

Insider Activity

In related news, CEO Sumit Singh sold 63,187 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $37.62, for a total value of $2,377,094.94. Following the transaction, the chief executive officer now owns 643,939 shares in the company, valued at $24,224,985.18. This trade represents a 8.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the business’s stock in a transaction dated 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 have sold 8,083,269 shares of company stock valued at $290,611,129 over the last three months. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CHWY has been the subject of a number of recent research reports. Piper Sandler upped their target price on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Guggenheim set a $42.00 price objective on shares of Chewy and gave the stock a “buy” rating in a report on Tuesday, February 4th. Wedbush reissued an “outperform” rating and issued a $39.00 target price on shares of Chewy in a research note on Monday, March 17th. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. upped their price objective on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.95.

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.