Balyasny Asset Management LLC boosted its position in shares of Chewy, Inc. (NYSE:CHWY – Get Rating) by 141.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,123,860 shares of the company’s stock after buying an additional 658,639 shares during the period. Balyasny Asset Management LLC owned approximately 0.27% of Chewy worth $34,525,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Korea Investment CORP lifted its stake in shares of Chewy by 167.2% in the 2nd quarter. Korea Investment CORP now owns 63,600 shares of the company’s stock valued at $2,208,000 after purchasing an additional 39,800 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Chewy in the 2nd quarter valued at approximately $5,432,000. Money Concepts Capital Corp lifted its stake in shares of Chewy by 253.4% in the 3rd quarter. Money Concepts Capital Corp now owns 7,662 shares of the company’s stock valued at $235,000 after purchasing an additional 5,494 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Chewy in the 2nd quarter valued at approximately $2,609,000. Finally, Westpac Banking Corp lifted its stake in shares of Chewy by 480.3% in the 3rd quarter. Westpac Banking Corp now owns 11,751 shares of the company’s stock valued at $361,000 after purchasing an additional 9,726 shares during the last quarter. 99.05% of the stock is owned by institutional investors.
Insider Activity
In other news, General Counsel Susan Helfrick sold 19,662 shares of Chewy stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $40.48, for a total value of $795,917.76. Following the transaction, the general counsel now directly owns 107,623 shares in the company, valued at approximately $4,356,579.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Susan Helfrick sold 19,662 shares of Chewy stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $40.48, for a total value of $795,917.76. Following the transaction, the general counsel now directly owns 107,623 shares in the company, valued at approximately $4,356,579.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 21,317 shares of Chewy stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $39.74, for a total value of $847,137.58. Following the completion of the transaction, the chief executive officer now owns 759,876 shares in the company, valued at $30,197,472.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,663 shares of company stock worth $4,462,645. 1.80% of the stock is currently owned by company insiders.
Chewy Stock Down 1.7 %
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on CHWY shares. Gordon Haskett started coverage on Chewy in a research note on Wednesday, February 15th. They issued a “hold” rating and a $46.00 price objective for the company. Wolfe Research lowered Chewy from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 7th. Barclays raised their price target on Chewy from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, December 9th. Evercore ISI raised their price target on Chewy to $55.00 in a research note on Monday, December 12th. Finally, Roth Mkm began coverage on Chewy in a research note on Friday, March 10th. They set a “buy” rating and a $52.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.52.
Chewy Company 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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