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

Chewy, Inc. (NYSE:CHWY) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 47,690 call options on the stock. This represents an increase of approximately 30% compared to the average volume of 36,769 call options.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new position in Chewy during the 2nd quarter valued at about $11,916,000. Cetera Advisors LLC bought a new position in shares of Chewy during the first quarter valued at approximately $334,000. Sanctuary Advisors LLC purchased a new stake in shares of Chewy in the second quarter worth approximately $673,000. Eagle Asset Management Inc. lifted its stake in shares of Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after acquiring an additional 975,647 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after acquiring an additional 2,636,526 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Stock Performance

NYSE CHWY opened at $33.58 on Wednesday. The company has a market cap of $14.04 billion, a P/E ratio of 40.95, a P/E/G ratio of 3.15 and a beta of 1.12. The business’s 50 day moving average price is $30.31 and its 200-day moving average price is $26.99. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $39.10.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CHWY. JPMorgan Chase & Co. upped their price target on Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Robert W. Baird raised their target price on shares of Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. 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. TD Cowen started coverage on shares of Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 price objective on the stock. Finally, Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and lifted their target price for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.80.

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.