Shares of Chewy, Inc. (NYSE:CHWY – Get Free Report) 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.
View Our Latest Research Report on CHWY
Chewy Price Performance
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.
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