Chewy (NYSE:CHWY) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Chewy, Inc. (NYSE:CHWY) saw unusually-high trading volume on Friday after Guggenheim raised their price target on the stock from $25.00 to $32.00. Guggenheim currently has a buy rating on the stock. Approximately 9,236,869 shares changed hands during trading, a decline of 9% from the previous session’s volume of 10,199,326 shares.The stock last traded at $25.94 and had previously closed at $29.05.

A number of other equities research analysts have also weighed in on CHWY. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Chewy from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Bank of America reduced their price objective on shares of Chewy from $17.00 to $16.50 and set an “underperform” rating on the stock in a research note on Thursday, March 21st. Raymond James upped their price objective on shares of Chewy from $19.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. Mizuho upped 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. Finally, Royal Bank of Canada reduced their price objective on shares of Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total transaction of $499,999,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total transaction of $499,999,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sumit Singh sold 6,728 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $104,485.84. Following the completion of the sale, the chief executive officer now directly owns 129,991 shares of the company’s stock, valued at $2,018,760.23. The disclosure for this sale can be found here. Insiders sold a total of 17,618,862 shares of company stock valued at $501,046,742 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

A number of institutional investors have recently added to or reduced their stakes in CHWY. Charles Schwab Investment Management Inc. grew its position in shares of Chewy by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock valued at $15,767,000 after acquiring an additional 39,301 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in shares of Chewy during the 4th quarter valued at approximately $339,000. Jump Financial LLC grew its position in shares of Chewy by 356.6% during the 4th quarter. Jump Financial LLC now owns 164,569 shares of the company’s stock valued at $3,889,000 after acquiring an additional 128,525 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Chewy by 347.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 79,265 shares of the company’s stock valued at $1,909,000 after acquiring an additional 61,556 shares during the period. Finally, Baillie Gifford & Co. grew its position in shares of Chewy by 16.8% during the 4th quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock valued at $436,748,000 after acquiring an additional 2,654,376 shares during the period. 93.09% of the stock is owned by institutional investors.

Chewy Trading Down 6.2 %

The stock’s 50-day moving average price is $19.83 and its two-hundred day moving average price is $18.99. The stock has a market capitalization of $11.85 billion, a P/E ratio of 151.33, a P/E/G ratio of 4.41 and a beta of 1.00.

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