Investors Purchase Large Volume of Call Options on Chewy (NYSE:CHWY)

Chewy, Inc. (NYSE:CHWYGet Free Report) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 107,012 call options on the company. This is an increase of approximately 58% compared to the typical volume of 67,846 call options.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total value of $499,999,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sumit Singh sold 46,090 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total transaction of $696,880.80. Following the completion of the transaction, the chief executive officer now directly owns 1,379,100 shares of the company’s stock, valued at $20,851,992. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total value of $499,999,500.00. The disclosure for this sale can be found here. Insiders sold a total of 18,942,371 shares of company stock valued at $541,393,732 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its position in shares of Chewy by 16.8% in the 4th quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock worth $436,748,000 after purchasing an additional 2,654,376 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Chewy during the 4th quarter worth about $42,223,000. Vanguard Group Inc. lifted its position in Chewy by 13.5% during the 4th quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock worth $226,959,000 after acquiring an additional 1,140,269 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Chewy by 127.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock valued at $27,328,000 after buying an additional 963,540 shares during the last quarter. Finally, Trexquant Investment LP raised its stake in shares of Chewy by 282.9% during the 4th quarter. Trexquant Investment LP now owns 675,032 shares of the company’s stock valued at $15,951,000 after buying an additional 498,753 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CHWY. UBS Group increased their price target on Chewy from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Chewy from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Royal Bank of Canada decreased their price objective on Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Needham & Company LLC upped their price objective on Chewy from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Finally, JMP Securities restated a “market outperform” rating and set a $28.00 price objective on shares of Chewy in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Chewy has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Get Our Latest Stock Report on Chewy

Chewy Stock Performance

CHWY traded up $0.69 during trading on Wednesday, hitting $25.50. 9,920,340 shares of the stock were exchanged, compared to its average volume of 10,722,392. The firm has a 50 day simple moving average of $21.13 and a 200 day simple moving average of $19.07. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of 138.06, a P/E/G ratio of 3.71 and a beta of 1.03. Chewy has a 1 year low of $14.69 and a 1 year high of $39.46.

Chewy (NYSE:CHWYGet Free Report) last released its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.04 by $0.11. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. As a group, equities analysts anticipate that Chewy will post 0.23 earnings per share for the current fiscal year.

About Chewy

(Get Free Report)

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.

Further Reading

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