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 value of $36,750,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 value of $789,999,991.20.

Chewy Price Performance

Shares of NYSE CHWY traded up $0.41 during midday trading on Tuesday, hitting $28.86. The stock had a trading volume of 4,531,743 shares, compared to its average volume of 9,166,313. The company’s 50-day simple moving average is $28.02 and its 200 day simple moving average is $23.30. The firm has a market cap of $12.55 billion, a P/E ratio of 157.78, a price-to-earnings-growth ratio of 3.04 and a beta of 1.05. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $39.10.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Equities analysts expect that Chewy, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Chewy

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Guggenheim lifted their price objective on Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Morgan Stanley lifted their price objective on Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. JPMorgan Chase & Co. lifted their price objective on Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Robert W. Baird raised their target price on Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada raised their target price on Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chewy presently has an average rating of “Moderate Buy” and an average target price 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.