Chewy (NYSE:CHWY) Shares Gap Up to $26.16

Shares of Chewy, Inc. (NYSE:CHWY) gapped up prior to trading on Friday . The stock had previously closed at $26.16, but opened at $27.05. Chewy shares last traded at $27.08, with a volume of 1,790,963 shares.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CHWY shares. Needham & Company LLC raised their price target on shares of Chewy from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Raymond James downgraded shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Bank of America increased their price target on Chewy from $20.00 to $24.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on Chewy from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Finally, Royal Bank of Canada raised their price objective on shares of Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $29.15.

Chewy Price Performance

The company has a fifty day moving average price of $25.58 and a 200 day moving average price of $20.84. The stock has a market cap of $11.75 billion, a P/E ratio of 145.44, a P/E/G ratio of 3.69 and a beta of 1.04.

Insider Buying and Selling at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of Chewy stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $30.32, for a total transaction of $40,576,103.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 14,338 shares of Chewy stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $318,877.12. Following the transaction, the chief executive officer now directly owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,906,141 shares of company stock valued at $540,973,233. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new position in Chewy in the second quarter worth $33,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Chewy in the 2nd quarter worth about $44,000. First Horizon Advisors Inc. bought a new position in Chewy during the second quarter valued at about $48,000. Skylands Capital LLC purchased a new position in Chewy in the second quarter valued at about $52,000. Finally, Quest Partners LLC purchased a new position in Chewy in the fourth quarter valued at about $65,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

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.