183,662 Shares in Chewy, Inc. (NYSE:CHWY) Acquired by Simplify Asset Management Inc.

Simplify Asset Management Inc. purchased a new stake in Chewy, Inc. (NYSE:CHWY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 183,662 shares of the company’s stock, valued at approximately $5,379,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new stake in shares of Chewy in the 2nd quarter valued at about $33,000. Blue Trust Inc. increased its holdings in shares of Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after acquiring an additional 905 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in shares of Chewy during the second quarter worth approximately $44,000. First Horizon Advisors Inc. bought a new position in shares of Chewy in the 2nd quarter worth $48,000. Finally, Skylands Capital LLC acquired a new stake in Chewy in the 2nd quarter valued at $52,000. 93.09% of the stock is owned by institutional investors.

Chewy Stock Performance

Shares of CHWY traded down $0.26 on Friday, reaching $32.13. The stock had a trading volume of 733,974 shares, compared to its average volume of 8,785,829. The company has a 50-day simple moving average of $29.35 and a 200-day simple moving average of $25.23. The firm has a market capitalization of $13.43 billion, a price-to-earnings ratio of 39.22, a price-to-earnings-growth ratio of 3.27 and a beta of 1.06. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. On average, analysts expect that Chewy, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

CHWY has been the topic of a number of recent research reports. Barclays raised their price objective on shares of Chewy from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and raised their target price for the company from $28.00 to $40.00 in a report on Friday, November 8th. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. TD Cowen began coverage on shares of Chewy in a research note on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price for the company. Finally, Robert W. Baird boosted their price target on shares of Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.15.

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.