Chewy, Inc. (NYSE:CHWY) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lowered its stake in shares of Chewy, Inc. (NYSE:CHWY) by 61.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,986 shares of the company’s stock after selling 4,844 shares during the period. AlphaQuest LLC’s holdings in Chewy were worth $100,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC acquired a new position in Chewy during the fourth quarter worth $2,915,000. Eagle Asset Management Inc. boosted 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 buying an additional 975,647 shares during the last quarter. Centiva Capital LP acquired a new position in Chewy during the third quarter worth $2,949,000. Raymond James Financial Inc. acquired a new position in Chewy during the fourth quarter worth $69,789,000. Finally, Geode Capital Management LLC raised its position in Chewy by 8.4% in the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after purchasing an additional 119,633 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Wall Street Analyst Weigh In

CHWY has been the topic of a number of research analyst reports. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $24.00 to $42.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. lifted their target price on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. BNP Paribas downgraded Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. Robert W. Baird lifted their target price on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Chewy has a consensus rating of “Moderate Buy” and an average price target of $37.30.

Chewy Price Performance

Shares of NYSE CHWY opened at $31.96 on Wednesday. The stock’s 50-day moving average is $36.46 and its two-hundred day moving average is $32.92. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09. The company has a market cap of $13.01 billion, a price-to-earnings ratio of 35.12, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23.

Insiders Place Their Bets

In other news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $35.77, for a total transaction of $250,390,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sumit Singh sold 71,161 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $35.00, for a total value of $2,490,635.00. Following the transaction, the chief executive officer now directly owns 6,677 shares of the company’s stock, valued at approximately $233,695. This represents a 91.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,797,494 shares of company stock worth $315,156,588 in the last quarter. 2.10% of the stock is owned by company insiders.

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 websites and mobile applications.