Insider Selling: Chewy, Inc. (NYSE:CHWY) Major Shareholder Sells 1,250,000 Shares of Stock

Chewy, Inc. (NYSE:CHWY) major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Argos Holdings Gp Llc also recently made the following trade(s):

• On Monday, September 23rd, Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20.

Chewy Stock Performance

Shares of NYSE:CHWY traded up $0.41 on Tuesday, hitting $28.86. 4,531,743 shares of the company were exchanged, compared to its average volume of 9,166,313. The company’s 50 day moving average price is $28.02 and its two-hundred day moving average price is $23.30. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10. The firm has a market capitalization of $12.55 billion, a price-to-earnings ratio of 157.78, a PEG ratio of 3.04 and a beta of 1.05.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. Research analysts predict that Chewy, Inc. will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Chewy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BC Partners Advisors L.P. acquired a new position in shares of Chewy during the second quarter worth approximately $7,517,800,000. Marshall Wace LLP lifted its position in shares of Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after purchasing an additional 2,636,526 shares in the last quarter. Fiera Capital Corp acquired a new position in shares of Chewy during the second quarter worth approximately $44,373,000. Clearbridge Investments LLC acquired a new position in shares of Chewy during the second quarter worth approximately $40,798,000. Finally, Baillie Gifford & Co. lifted its position in shares of Chewy by 7.2% during the first quarter. Baillie Gifford & Co. now owns 19,819,195 shares of the company’s stock worth $315,323,000 after purchasing an additional 1,336,431 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHWY has been the topic of several recent research reports. Piper Sandler restated an “overweight” rating and issued a $35.00 price target on shares of Chewy in a research report on Friday, September 20th. Guggenheim lifted their target price on shares of Chewy from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Bank of America lifted their target price on shares of Chewy from $20.00 to $24.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Barclays lifted their target price on shares of Chewy from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Wolfe Research assumed coverage on shares of Chewy in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Chewy currently has an average rating of “Moderate Buy” and a consensus price target of $29.55.

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.