Swiss National Bank Raises Holdings in Chewy, Inc. (NYSE:CHWY)

Swiss National Bank increased its holdings in Chewy, Inc. (NYSE:CHWY) by 18.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 354,900 shares of the company’s stock after acquiring an additional 55,800 shares during the period. Swiss National Bank owned approximately 0.09% of Chewy worth $11,886,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CHWY. FMR LLC lifted its stake in 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 in the last quarter. Raymond James Financial Inc. acquired a new position in Chewy during the fourth quarter worth $69,789,000. Wealthfront Advisers LLC acquired a new position in Chewy during the fourth quarter worth $46,003,000. Eagle Asset Management Inc. lifted its stake in 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 purchasing an additional 975,647 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Chewy by 134.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company’s stock worth $54,281,000 after purchasing an additional 929,116 shares in the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chewy

In related news, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the transaction, the chief technology officer now owns 262,853 shares in the company, valued at $9,357,566.80. The trade was a 21.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David Reeder sold 307,558 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $37.48, for a total value of $11,527,273.84. Following the completion of the transaction, the chief financial officer now owns 546,257 shares in the company, valued at $20,473,712.36. This trade represents a 36.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,726,333 shares of company stock worth $312,843,856. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CHWY shares. Piper Sandler upped their price target on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Wedbush reiterated an “outperform” rating and issued a $39.00 price objective on shares of Chewy in a research note on Monday. Evercore ISI upgraded Chewy from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $34.00 to $47.00 in a research note on Monday, January 13th. BNP Paribas cut Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. increased their price objective on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chewy currently has an average rating of “Moderate Buy” and an average target price of $37.30.

Chewy Stock Performance

CHWY opened at $32.38 on Friday. The business’s 50-day simple moving average is $36.30 and its 200-day simple moving average is $32.92. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09. The stock has a market capitalization of $13.18 billion, a P/E ratio of 35.58, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23.

Chewy 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.