Chewy, Inc. (NYSE:CHWY) Short Interest Up 8.0% in June

Chewy, Inc. (NYSE:CHWY) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 19,910,000 shares, a growth of 8.0% from the May 31st total of 18,440,000 shares. Based on an average daily trading volume, of 10,580,000 shares, the days-to-cover ratio is presently 1.9 days.

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 46,090 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $696,880.80. Following the transaction, the chief executive officer now directly owns 1,379,100 shares of the company’s stock, valued at approximately $20,851,992. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CTO Satish Mehta sold 8,019 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $121,247.28. Following the transaction, the chief technology officer now owns 569,594 shares in the company, valued at $8,612,261.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sumit Singh sold 46,090 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $696,880.80. Following the completion of the sale, the chief executive officer now directly owns 1,379,100 shares of the company’s stock, valued at approximately $20,851,992. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,604,109 shares of company stock valued at $500,817,628. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chewy

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Chewy by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock worth $15,767,000 after buying an additional 39,301 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Chewy in the fourth quarter worth $339,000. Jump Financial LLC lifted its position in Chewy by 356.6% in the fourth quarter. Jump Financial LLC now owns 164,569 shares of the company’s stock worth $3,889,000 after purchasing an additional 128,525 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Chewy by 347.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 79,265 shares of the company’s stock worth $1,909,000 after purchasing an additional 61,556 shares during the period. Finally, Baillie Gifford & Co. lifted its position in Chewy by 16.8% in the fourth 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 during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CHWY. Deutsche Bank Aktiengesellschaft raised their price target on shares of Chewy from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Guggenheim raised their target price on Chewy from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Friday. Wedbush lifted their price objective on shares of Chewy from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. JMP Securities restated a “market outperform” rating and set a $28.00 price objective on shares of Chewy in a research note on Friday, March 15th. Finally, Mizuho lifted their price objective on shares of Chewy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, June 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.50.

Chewy Trading Down 2.7 %

NYSE:CHWY traded down $0.68 on Tuesday, hitting $24.76. 14,370,137 shares of the company’s stock traded hands, compared to its average volume of 10,759,947. Chewy has a 1 year low of $14.69 and a 1 year high of $39.46. The firm has a 50-day moving average price of $19.83 and a 200-day moving average price of $18.98. The company has a market cap of $10.77 billion, a PE ratio of 138.22, a price-to-earnings-growth ratio of 4.14 and a beta of 1.03.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.11. Chewy had a return on equity of 16.62% and a net margin of 0.73%. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.85 billion. On average, research analysts forecast that Chewy will post 0.22 EPS for the current fiscal year.

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.