Chewy (NYSE:CHWY) Upgraded at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Chewy (NYSE:CHWY) to a hold rating in a research report report published on Monday,Zacks.com reports.

Several other equities analysts also recently issued reports on CHWY. Piper Sandler upped their price objective on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. UBS Group upped their target price on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Robert W. Baird lifted their price target on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Guggenheim set a $42.00 price objective on Chewy and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Evercore ISI upgraded shares of Chewy from an “in-line” rating to an “outperform” rating and upped their price target for the company from $34.00 to $47.00 in a research report on Monday, January 13th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.95.

Chewy Trading Down 0.9 %

CHWY stock opened at $33.30 on Monday. The stock has a market cap of $13.56 billion, a P/E ratio of 36.60, a PEG ratio of 2.21 and a beta of 1.23. Chewy has a twelve month low of $14.69 and a twelve month high of $40.09. The company’s 50 day moving average is $36.09 and its two-hundred day moving average is $33.14.

Insiders Place Their Bets

In other Chewy news, CTO Satish Mehta sold 71,365 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the completion of the sale, the chief technology officer now directly owns 262,853 shares in the company, valued at $9,357,566.80. This represents a 21.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sumit Singh sold 9,285 shares of Chewy stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $40.00, for a total transaction of $371,400.00. Following the transaction, the chief executive officer now directly owns 489,750 shares in the company, valued at approximately $19,590,000. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,083,269 shares of company stock worth $290,611,129. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Chewy

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Chewy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after purchasing an additional 3,493,926 shares in the last quarter. FMR LLC boosted its holdings in Chewy by 166.8% in 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 period. Durable Capital Partners LP acquired a new stake in shares of Chewy during the fourth quarter worth $79,050,000. Invesco Ltd. lifted its position in shares of Chewy by 4,577.5% in the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock worth $73,381,000 after buying an additional 2,144,302 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Chewy in the 4th quarter valued at about $69,789,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

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.