Chewy’s (CHWY) “Hold” Rating Reiterated at Needham & Company LLC

Chewy (NYSE:CHWY)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports.

Several other brokerages also recently weighed in on CHWY. UBS Group upped their target price on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group upped their price objective on Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Wedbush reissued an “outperform” rating and set a $39.00 target price on shares of Chewy in a research note on Monday, March 17th. Guggenheim set a $42.00 price target on Chewy and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, BNP Paribas lowered shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.95.

Chewy Price Performance

Shares of NYSE:CHWY opened at $33.30 on Thursday. The company has a market capitalization of $13.56 billion, a P/E ratio of 36.60, a P/E/G ratio of 2.21 and a beta of 1.23. Chewy has a 1-year low of $14.69 and a 1-year high of $40.09. The firm’s 50 day simple moving average is $36.09 and its two-hundred day simple moving average is $33.14.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.77, for a total transaction of $250,390,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Satish Mehta sold 71,365 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was 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 owns 262,853 shares in the company, valued at approximately $9,357,566.80. The trade was a 21.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,083,269 shares of company stock worth $290,611,129 in the last three months. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock worth $485,093,000 after purchasing an additional 3,493,926 shares during the last quarter. FMR LLC boosted its position in 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 buying an additional 2,497,689 shares during the period. Durable Capital Partners LP bought a new position in Chewy in the 4th quarter worth about $79,050,000. Invesco Ltd. increased its position in shares of Chewy by 4,577.5% during the fourth quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock worth $73,381,000 after acquiring an additional 2,144,302 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Chewy during the fourth quarter valued at approximately $69,789,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

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.