Chewy, Inc. (NYSE:CHWY – Get Free Report) shares gapped down before the market opened on Thursday after Bank of America lowered their price target on the stock from $17.00 to $16.50. The stock had previously closed at $17.74, but opened at $16.75. Bank of America currently has an underperform rating on the stock. Chewy shares last traded at $16.96, with a volume of 4,870,153 shares changing hands.
A number of other equities analysts have also recently weighed in on the stock. Mizuho started coverage on shares of Chewy in a research note on Tuesday. They set a “neutral” rating and a $18.00 price target on the stock. Raymond James reduced their price target on shares of Chewy from $33.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, December 4th. JMP Securities restated a “market outperform” rating and issued a $28.00 price target on shares of Chewy in a report on Friday, March 15th. Piper Sandler dropped their price objective on Chewy from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Morgan Stanley decreased their target price on Chewy from $28.00 to $27.00 and set an “overweight” rating on the stock in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and an average price target of $29.48.
Insider Buying and Selling at Chewy
In other news, CEO Sumit Singh sold 192,642 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total value of $3,409,763.40. Following the completion of the sale, the chief executive officer now owns 1,307,025 shares of the company’s stock, valued at $23,134,342.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sumit Singh sold 192,642 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $17.70, for a total transaction of $3,409,763.40. Following the sale, the chief executive officer now directly owns 1,307,025 shares in the company, valued at approximately $23,134,342.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Satish Mehta sold 40,523 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $717,257.10. Following the completion of the transaction, the chief technology officer now owns 557,058 shares of the company’s stock, valued at approximately $9,859,926.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,560,416 shares of company stock valued at $254,241,215. Company insiders own 2.10% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its stake in shares of Chewy by 0.5% in the 1st quarter. Stifel Financial Corp now owns 80,133 shares of the company’s stock valued at $2,995,000 after purchasing an additional 394 shares in the last quarter. Quarry LP boosted its holdings in Chewy by 120.2% in the first quarter. Quarry LP now owns 874 shares of the company’s stock worth $33,000 after purchasing an additional 477 shares during the period. Gabelli Funds LLC increased its stake in Chewy by 9.1% during the first quarter. Gabelli Funds LLC now owns 6,000 shares of the company’s stock valued at $224,000 after purchasing an additional 500 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Chewy by 4.2% during the first quarter. Steward Partners Investment Advisory LLC now owns 12,463 shares of the company’s stock worth $466,000 after purchasing an additional 507 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Chewy by 15.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock worth $95,000 after buying an additional 543 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors.
Chewy Stock Performance
The company’s fifty day moving average price is $17.82 and its 200 day moving average price is $19.29. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 796.00, a price-to-earnings-growth ratio of 6.55 and a beta of 0.92.
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 Website www.chewy.com, as well as mobile applications.