Chewy (NYSE:CHWY) Price Target Raised to $40.00 at JPMorgan Chase & Co.

Chewy (NYSE:CHWY) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $38.00 to $40.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 20.49% from the company’s current price.

Several other research firms have also recently issued reports on CHWY. Seaport Res Ptn raised shares of Chewy to a “hold” rating in a research report on Monday. UBS Group boosted their price target on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Barclays raised their price objective on Chewy from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler upped their target price on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Finally, Guggenheim set a $42.00 price objective on Chewy and gave the company a “buy” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.26.

Chewy Trading Down 0.2 %

Shares of CHWY traded down $0.05 during trading hours on Thursday, reaching $33.20. 1,093,330 shares of the company traded hands, compared to its average volume of 7,423,976. The stock’s fifty day moving average price is $36.09 and its 200 day moving average price is $33.14. The firm has a market cap of $13.52 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 2.21 and a beta of 1.23. Chewy has a 12-month low of $14.69 and a 12-month high of $40.09.

Insider Buying and Selling

In other news, CEO Sumit Singh sold 63,187 shares of Chewy stock in a transaction on Monday, January 6th. The shares were sold at an average price of $37.62, for a total transaction of $2,377,094.94. Following the completion of the sale, the chief executive officer now directly owns 643,939 shares in the company, valued at approximately $24,224,985.18. The trade was a 8.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the sale, the chief technology officer now directly owns 262,853 shares in the company, valued at $9,357,566.80. This trade represents a 21.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,083,269 shares of company stock worth $290,611,129 in the last ninety days. 2.10% of the stock is owned by insiders.

Institutional Trading of Chewy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHWY. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chewy by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 824,824 shares of the company’s stock worth $24,159,000 after purchasing an additional 46,629 shares during the period. Cerity Partners LLC lifted its stake in Chewy by 42.4% during the 3rd quarter. Cerity Partners LLC now owns 15,324 shares of the company’s stock valued at $449,000 after acquiring an additional 4,559 shares during the period. DRW Securities LLC purchased a new stake in shares of Chewy in the 3rd quarter valued at $293,000. Bank of Montreal Can increased its stake in shares of Chewy by 261.2% in the third quarter. Bank of Montreal Can now owns 158,166 shares of the company’s stock worth $4,739,000 after acquiring an additional 256,275 shares during the period. Finally, FMR LLC raised its holdings in shares of Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after purchasing an additional 2,497,689 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

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.