Chewy, Inc. (NYSE:CHWY) Major Shareholder Sells $620,989,219.44 in Stock

Chewy, Inc. (NYSE:CHWY) major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total transaction of $620,989,219.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Argos Holdings Gp Llc also recently made the following trade(s):

• On Tuesday, October 15th, Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00.
• On Monday, September 23rd, Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20.

Chewy Trading Up 1.2 %

Shares of CHWY opened at $32.26 on Monday. The firm has a market capitalization of $13.49 billion, a P/E ratio of 35.45, a P/E/G ratio of 4.28 and a beta of 1.12. The firm has a 50-day moving average price of $30.73 and a 200 day moving average price of $27.82. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same quarter in the prior year, the company earned ($0.08) earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. Equities research analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Chewy in the 2nd quarter valued at about $11,916,000. Cetera Advisors LLC purchased a new stake in Chewy in the first quarter valued at approximately $334,000. Sanctuary Advisors LLC acquired a new stake in shares of Chewy in the second quarter valued at approximately $673,000. Eagle Asset Management Inc. grew its position in shares of Chewy by 97.9% during the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after acquiring an additional 975,647 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Chewy by 1,028.6% in the 2nd 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. 93.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CHWY shares. JPMorgan Chase & Co. lifted their price objective on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Barclays lifted their price target on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. UBS Group increased their price objective on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Piper Sandler lifted their target price on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chewy currently has an average rating of “Moderate Buy” and an average price target of $34.15.

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.