Harbour Investments Inc. Lowers Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Harbour Investments Inc. lowered its stake in Chewy, Inc. (NYSE:CHWY) by 54.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 900 shares of the company’s stock after selling 1,086 shares during the period. Harbour Investments Inc.’s holdings in Chewy were worth $30,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in shares of Chewy by 9.8% in the fourth quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock worth $150,345,000 after acquiring an additional 399,330 shares during the last quarter. FMR LLC boosted its stake in Chewy by 166.8% in the 3rd 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 in the last quarter. ArrowMark Colorado Holdings LLC grew its position in Chewy by 5.3% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock valued at $81,014,000 after purchasing an additional 138,768 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Chewy during the 4th quarter valued at about $69,789,000. Finally, Allianz Asset Management GmbH raised its holdings in Chewy by 134.3% in the fourth quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company’s stock worth $54,281,000 after buying an additional 929,116 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

Chewy Stock Performance

NYSE CHWY opened at $34.01 on Tuesday. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $40.09. The company has a market capitalization of $13.85 billion, a PE ratio of 37.37, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. The business’s fifty day moving average is $36.22 and its 200 day moving average is $33.08.

Insider Buying and Selling

In other news, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the transaction, the chief technology officer now directly owns 262,853 shares in the company, valued at $9,357,566.80. The trade was a 21.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 571,903 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $34.52, for a total value of $19,742,091.56. Following the sale, the chief executive officer now owns 898,222 shares of the company’s stock, valued at $31,006,623.44. This represents a 38.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,655,172 shares of company stock valued at $310,353,221. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. BNP Paribas downgraded Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. JMP Securities reaffirmed a “market outperform” rating and set a $37.00 price target on shares of Chewy in a report on Monday, December 16th. Wolfe Research upgraded Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. Five 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 a consensus target price of $37.95.

Chewy 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.