Chewy, Inc. (NYSE:CHWY) Short Interest Update

Chewy, Inc. (NYSE:CHWY) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 13,400,000 shares, an increase of 32.8% from the October 31st total of 10,090,000 shares. Based on an average daily trading volume, of 6,390,000 shares, the days-to-cover ratio is presently 2.1 days.

Insider Transactions at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CHWY. BC Partners Advisors L.P. purchased a new stake in Chewy during the 2nd quarter worth approximately $7,517,800,000. Marshall Wace LLP increased its stake in shares of Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after buying an additional 2,636,526 shares during the last quarter. FMR LLC raised its holdings in Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after acquiring an additional 2,497,689 shares in the last quarter. Fiera Capital Corp bought a new position in Chewy during the 2nd quarter valued at $44,373,000. Finally, Clearbridge Investments LLC acquired a new position in Chewy during the 2nd quarter worth $40,798,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Royal Bank of Canada lifted their price objective on Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Raymond James downgraded shares of Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Wedbush reissued an “outperform” rating and issued a $35.00 target price on shares of Chewy in a research report on Thursday, August 29th. Finally, Barclays upped their price target on shares of Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.35.

Chewy Price Performance

Chewy stock opened at $33.41 on Monday. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10. The company has a market capitalization of $13.97 billion, a price-to-earnings ratio of 40.74, a price-to-earnings-growth ratio of 3.13 and a beta of 1.06. The firm’s fifty day moving average price is $30.16 and its 200 day moving average price is $26.75.

Chewy Company 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.