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

Chewy, Inc. (NYSE:CHWY) was the target of some unusual options trading activity on Friday. Stock investors purchased 39,060 call options on the company. This is an increase of approximately 65% compared to the average volume of 23,729 call options.

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 71,161 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $35.00, for a total transaction of $2,490,635.00. Following the completion of the transaction, the chief executive officer now directly owns 6,677 shares in the company, valued at $233,695. The trade was a 91.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the transaction, the chief technology officer now owns 262,853 shares of the company’s stock, valued at $9,357,566.80. This trade represents a 21.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,726,333 shares of company stock valued at $312,843,856 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

A number of institutional investors have recently bought and sold shares of CHWY. Banque Transatlantique SA bought a new position in Chewy in the fourth quarter worth about $30,000. Fifth Third Bancorp raised its stake in Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after buying an additional 444 shares in the last quarter. Blue Trust Inc. grew its holdings in Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after purchasing an additional 320 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Chewy in the third quarter worth about $63,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Chewy in the fourth quarter worth about $67,000. 93.09% of the stock is owned by institutional investors.

Chewy Price Performance

CHWY stock opened at $33.86 on Friday. Chewy has a 1 year low of $14.69 and a 1 year high of $40.09. The company has a market cap of $13.79 billion, a P/E ratio of 37.21, a PEG ratio of 2.21 and a beta of 1.23. The firm has a 50-day moving average of $36.25 and a 200 day moving average of $32.95.

Wall Street Analysts Forecast Growth

CHWY has been the subject of several research reports. The Goldman Sachs Group upped their target price on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $24.00 to $42.00 in a research report on Monday, January 6th. JMP Securities reiterated a “market outperform” rating and issued a $37.00 target price on shares of Chewy in a research report on Monday, December 16th. Finally, Wolfe Research raised shares of Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Chewy presently has an average rating of “Moderate Buy” and a consensus price target of $37.95.

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.