MML Investors Services LLC increased its position in shares of Chewy, Inc. (NYSE:CHWY – Get Rating) by 9.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,283 shares of the company’s stock after acquiring an additional 1,814 shares during the period. MML Investors Services LLC’s holdings in Chewy were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Exos TFP Holdings LLC acquired a new position in Chewy during the third quarter worth $78,000. Skandinaviska Enskilda Banken AB publ increased its position in Chewy by 10.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 16,328 shares of the company’s stock worth $502,000 after buying an additional 1,503 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Chewy by 2.0% during the third quarter. Envestnet Asset Management Inc. now owns 204,635 shares of the company’s stock worth $6,286,000 after buying an additional 3,947 shares during the last quarter. Credit Agricole S A increased its position in Chewy by 27.4% during the third quarter. Credit Agricole S A now owns 12,955 shares of the company’s stock worth $398,000 after buying an additional 2,783 shares during the last quarter. Finally, ExodusPoint Capital Management LP increased its position in Chewy by 86.4% during the third quarter. ExodusPoint Capital Management LP now owns 52,196 shares of the company’s stock worth $1,603,000 after buying an additional 24,198 shares during the last quarter. 99.05% of the stock is currently owned by hedge funds and other institutional investors.
Chewy Trading Up 0.3 %
NYSE:CHWY opened at $40.43 on Tuesday. Chewy, Inc. has a 1 year low of $22.22 and a 1 year high of $52.88. The firm has a 50 day moving average of $42.42 and a 200-day moving average of $39.46. The stock has a market capitalization of $17.12 billion, a P/E ratio of -808.44, a price-to-earnings-growth ratio of 16.34 and a beta of 0.79.
Insider Activity at Chewy
In related news, CFO Mario Jesus Marte sold 37,208 shares of the firm’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $42.79, for a total value of $1,592,130.32. Following the completion of the sale, the chief financial officer now owns 289,120 shares of the company’s stock, valued at $12,371,444.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Chewy news, CFO Mario Jesus Marte sold 37,208 shares of Chewy stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $42.79, for a total transaction of $1,592,130.32. Following the completion of the sale, the chief financial officer now owns 289,120 shares of the company’s stock, valued at approximately $12,371,444.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sumit Singh sold 77,517 shares of Chewy stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $42.79, for a total transaction of $3,316,952.43. Following the sale, the chief executive officer now directly owns 800,615 shares of the company’s stock, valued at approximately $34,258,315.85. The disclosure for this sale can be found here. Insiders sold a total of 266,723 shares of company stock valued at $11,354,402 over the last quarter. Corporate insiders own 1.80% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Morgan Stanley lowered their target price on shares of Chewy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 18th. Moffett Nathanson initiated coverage on Chewy in a research report on Tuesday, November 15th. They issued a “market perform” rating and a $33.00 price target on the stock. Barclays raised their price target on Chewy from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, December 9th. Wedbush raised Chewy from a “neutral” rating to an “outperform” rating and raised their price target for the company from $35.00 to $55.00 in a research report on Friday, January 27th. Finally, Robert W. Baird raised their price target on Chewy from $45.00 to $50.00 in a research report on Friday, December 9th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.20.
Chewy Profile
Chewy, Inc operates as a pure-play pet e-tailer in the United States. It supplies pet medications, food, treats and other pet-health products and services for dogs, cats, fish, birds, small pets, horses, and reptiles. The company was founded by Ryan Cohen and Michael Day in September 2011 and is headquartered in Dania Beach, FL.
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