Chewy, Inc. (NYSE:CHWY) Receives $37.95 Average Target Price from Analysts

Chewy, Inc. (NYSE:CHWY) has earned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $37.95.

A number of equities research analysts have recently issued reports on CHWY shares. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. Wedbush restated an “outperform” rating and set a $39.00 price target on shares of Chewy in a research note on Monday, March 17th. Piper Sandler lifted their price objective on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Robert W. Baird increased their target price on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Finally, UBS Group boosted their price target on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd.

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 71,161 shares of Chewy stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $35.00, for a total transaction of $2,490,635.00. Following the sale, the chief executive officer now owns 6,677 shares in the company, valued at approximately $233,695. The trade was a 91.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Satish Mehta sold 71,365 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the sale, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at approximately $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 worth $312,843,856 over the last three months. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

A number of institutional investors have recently modified their holdings of CHWY. Victory Capital Management Inc. grew its position in Chewy by 78.3% during the 3rd quarter. Victory Capital Management Inc. now owns 55,779 shares of the company’s stock worth $1,634,000 after purchasing an additional 24,493 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Chewy by 88.2% during the third quarter. Natixis Advisors LLC now owns 176,450 shares of the company’s stock worth $5,168,000 after buying an additional 82,713 shares during the period. Swiss National Bank grew its holdings in shares of Chewy by 11.8% during the third quarter. Swiss National Bank now owns 299,100 shares of the company’s stock worth $8,761,000 after buying an additional 31,500 shares during the last quarter. Quest Partners LLC acquired a new position in Chewy in the 3rd quarter valued at about $229,000. Finally, Massachusetts Financial Services Co. MA raised its stake in Chewy by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 528,215 shares of the company’s stock valued at $15,471,000 after acquiring an additional 24,798 shares during the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Trading Up 4.8 %

Shares of CHWY opened at $33.86 on Friday. The company’s 50-day moving average price is $36.25 and its 200 day moving average price is $33.03. Chewy has a 12-month low of $14.69 and a 12-month high of $40.09. The firm has a market cap of $13.79 billion, a P/E ratio of 37.21, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23.

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.