Chewy Target of Unusually Large Options Trading (NYSE:CHWY)

Chewy, Inc. (NYSE:CHWY) was the target of some unusual options trading on Friday. Stock traders purchased 39,060 call options on the stock. This is an increase of approximately 65% compared to the typical volume of 23,729 call options.

Chewy Stock Up 4.8 %

Shares of CHWY traded up $1.54 during mid-day trading on Friday, hitting $33.86. 8,470,278 shares of the company’s stock were exchanged, compared to its average volume of 7,602,010. The firm has a fifty day moving average of $36.30 and a two-hundred day moving average of $32.92. Chewy has a twelve month low of $14.69 and a twelve month high of $40.09. The stock has a market cap of $13.79 billion, a price-to-earnings ratio of 37.21, a P/E/G ratio of 2.21 and a beta of 1.23.

Insider Buying and Selling at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.77, for a total transaction of $250,390,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sumit Singh sold 571,903 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $34.52, for a total value of $19,742,091.56. Following the completion of the transaction, the chief executive officer now directly owns 898,222 shares in the company, valued at approximately $31,006,623.44. This trade represents a 38.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,726,333 shares of company stock valued at $312,843,856. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

A number of hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its position in Chewy by 78.3% in the 3rd quarter. Victory Capital Management Inc. now owns 55,779 shares of the company’s stock valued at $1,634,000 after acquiring an additional 24,493 shares in the last quarter. Natixis Advisors LLC grew its holdings in Chewy by 88.2% during the third quarter. Natixis Advisors LLC now owns 176,450 shares of the company’s stock valued at $5,168,000 after purchasing an additional 82,713 shares during the period. Swiss National Bank grew its holdings in Chewy by 11.8% during the third quarter. Swiss National Bank now owns 299,100 shares of the company’s stock valued at $8,761,000 after purchasing an additional 31,500 shares during the period. Quest Partners LLC acquired a new position in shares of Chewy in the third quarter valued at approximately $229,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Chewy by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 528,215 shares of the company’s stock valued at $15,471,000 after buying an additional 24,798 shares during the period. 93.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on CHWY shares. Piper Sandler raised their price objective on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $24.00 to $42.00 in a research note on Monday, January 6th. Wedbush restated an “outperform” rating and issued a $39.00 price target on shares of Chewy in a research note on Monday. Finally, Morgan Stanley boosted their price objective on Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.30.

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.