Investors Purchase Large Volume of Call Options on Chewy (NYSE:CHWY)

Chewy, Inc. (NYSE:CHWY) was the recipient of some unusual options trading on Tuesday. Investors acquired 70,359 call options on the company. This represents an increase of 54% compared to the average volume of 45,766 call options.

Insider Buying and Selling at Chewy

In other news, CTO Satish Mehta sold 8,019 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total transaction of $121,247.28. Following the sale, the chief technology officer now owns 569,594 shares in the company, valued at $8,612,261.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sumit Singh sold 6,728 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $104,485.84. Following the sale, the chief executive officer now owns 129,991 shares in the company, valued at $2,018,760.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Satish Mehta sold 8,019 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $121,247.28. Following the sale, the chief technology officer now owns 569,594 shares in the company, valued at approximately $8,612,261.28. The disclosure for this sale can be found here. Insiders have sold 68,862 shares of company stock worth $1,047,242 over the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Several hedge funds have recently added to or reduced their stakes in CHWY. Baillie Gifford & Co. raised its holdings in Chewy by 7.2% in the 1st quarter. Baillie Gifford & Co. now owns 19,819,195 shares of the company’s stock valued at $315,323,000 after acquiring an additional 1,336,431 shares in the last quarter. Vanguard Group Inc. raised its holdings in Chewy by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 10,480,230 shares of the company’s stock valued at $166,740,000 after acquiring an additional 875,532 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Chewy in the 4th quarter valued at $42,223,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Chewy by 127.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock valued at $27,328,000 after acquiring an additional 963,540 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in Chewy by 141.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,188,823 shares of the company’s stock valued at $21,708,000 after acquiring an additional 695,907 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Stock Up 14.1 %

CHWY opened at $26.02 on Wednesday. Chewy has a 12-month low of $14.69 and a 12-month high of $40.22. The stock has a market cap of $11.32 billion, a price-to-earnings ratio of 144.56, a PEG ratio of 3.67 and a beta of 0.99. The business has a 50 day moving average of $18.15 and a 200-day moving average of $18.53.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.11. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. As a group, analysts expect that Chewy will post 0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CHWY shares. JPMorgan Chase & Co. raised their price target on Chewy from $22.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Wedbush raised their price target on Chewy from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Piper Sandler raised their price target on Chewy from $16.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Morgan Stanley raised their price target on Chewy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Mizuho increased their price objective on Chewy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, June 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.31.

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.