Short Interest in Chewy, Inc. (NYSE:CHWY) Increases By 32.8%

Chewy, Inc. (NYSE:CHWY) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 13,400,000 shares, an increase of 32.8% from the October 31st total of 10,090,000 shares. Based on an average trading volume of 6,390,000 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CHWY shares. Piper Sandler restated an “overweight” rating and set a $35.00 price objective on shares of Chewy in a research report on Friday, September 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research report on Wednesday, October 23rd. Evercore ISI upped their price objective on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Wedbush reissued an “outperform” rating and set a $35.00 target price on shares of Chewy in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.35.

Insider Activity

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chewy

Institutional investors have recently bought and sold shares of the business. BC Partners Advisors L.P. bought a new position in shares of Chewy during the 2nd quarter worth about $7,517,800,000. Marshall Wace LLP boosted its holdings in Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after purchasing an additional 2,636,526 shares in the last quarter. FMR LLC grew its stake in shares of Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after purchasing an additional 2,497,689 shares during the period. Fiera Capital Corp acquired a new position in shares of Chewy in the 2nd quarter worth approximately $44,373,000. Finally, Clearbridge Investments LLC acquired a new position in Chewy during the second quarter worth $40,798,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Trading Up 0.2 %

Shares of NYSE:CHWY opened at $33.41 on Monday. The firm has a market capitalization of $13.97 billion, a PE ratio of 40.74, a PEG ratio of 3.13 and a beta of 1.06. Chewy has a 1-year low of $14.69 and a 1-year high of $39.10. The business’s 50 day moving average is $30.16 and its 200-day moving average is $26.75.

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.