Chewy (NYSE:CHWY) Shares Gap Down to $31.10

Chewy, Inc. (NYSE:CHWY)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $31.10, but opened at $29.99. Chewy shares last traded at $29.75, with a volume of 2,906,783 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently commented on CHWY shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Chewy from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Royal Bank of Canada lifted their price objective on shares of Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Citigroup upped their price target on shares of Chewy from $16.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Evercore ISI increased their target price on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Finally, Bank of America increased their target price on shares of Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.11.

Chewy Price Performance

The company’s 50-day moving average price is $26.54 and its two-hundred day moving average price is $21.76. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 163.94, a PEG ratio of 3.02 and a beta of 1.04.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total transaction of $499,999,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total transaction of $499,999,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Satish Mehta sold 2,894 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $64,362.56. Following the completion of the sale, the chief technology officer now owns 573,463 shares of the company’s stock, valued at $12,753,817.12. The disclosure for this sale can be found here. Insiders sold a total of 18,906,141 shares of company stock worth $540,973,233 over the last three months. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chewy

A number of large investors have recently bought and sold shares of CHWY. Charles Schwab Investment Management Inc. grew its holdings in Chewy by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock worth $15,767,000 after purchasing an additional 39,301 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Chewy during the fourth quarter valued at about $339,000. Wells Fargo & Company MN grew its holdings in shares of Chewy by 8.8% during the fourth quarter. Wells Fargo & Company MN now owns 915,965 shares of the company’s stock valued at $21,644,000 after buying an additional 73,825 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Chewy during the fourth quarter valued at about $65,000. Finally, Ontario Teachers Pension Plan Board grew its holdings in shares of Chewy by 129.2% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 93,584 shares of the company’s stock valued at $2,211,000 after buying an additional 52,751 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.