Commonwealth Equity Services LLC Boosts Stake in Chewy, Inc. (NYSE:CHWY)

Commonwealth Equity Services LLC grew its stake in Chewy, Inc. (NYSE:CHWY) by 20.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,704 shares of the company’s stock after buying an additional 8,228 shares during the period. Commonwealth Equity Services LLC’s holdings in Chewy were worth $1,327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CHWY. Baillie Gifford & Co. raised its holdings in shares of Chewy by 7.2% in the first quarter. Baillie Gifford & Co. now owns 19,819,195 shares of the company’s stock worth $315,323,000 after buying an additional 1,336,431 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Chewy by 13.5% during the fourth quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock worth $226,959,000 after purchasing an additional 1,140,269 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Chewy by 127.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock worth $27,328,000 after purchasing an additional 963,540 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Chewy during the second quarter worth $14,380,000. Finally, Trexquant Investment LP raised its holdings in shares of Chewy by 282.9% during the fourth quarter. Trexquant Investment LP now owns 675,032 shares of the company’s stock worth $15,951,000 after purchasing an additional 498,753 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Chewy from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Argus cut shares of Chewy from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. 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 report on Thursday, August 29th. Barclays lifted their price objective on shares of Chewy from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Guggenheim lifted their price objective on shares of Chewy from $25.00 to $32.00 and gave the company a “buy” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chewy has an average rating of “Moderate Buy” and a consensus price target of $29.11.

Insider Buying and Selling

In related news, CTO Satish Mehta sold 2,894 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $64,362.56. Following the transaction, the chief technology officer now directly owns 573,463 shares in the company, valued at $12,753,817.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of Chewy stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 2,894 shares of Chewy stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $64,362.56. Following the transaction, the chief technology officer now directly owns 573,463 shares in the company, valued at $12,753,817.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,906,141 shares of company stock worth $540,973,233. 2.10% of the stock is owned by insiders.

Chewy Trading Up 3.4 %

CHWY opened at $31.98 on Monday. The firm has a market capitalization of $13.91 billion, a PE ratio of 177.67, a PEG ratio of 3.02 and a beta of 1.04. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10. The firm’s 50-day moving average price is $26.04 and its 200 day moving average price is $21.42.

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.