Blueshift Asset Management LLC Increases Holdings in Chewy, Inc. (NYSE:CHWY)

Blueshift Asset Management LLC raised its position in Chewy, Inc. (NYSE:CHWY) by 14.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,101 shares of the company’s stock after buying an additional 4,423 shares during the period. Blueshift Asset Management LLC’s holdings in Chewy were worth $1,209,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Mutual of America Capital Management LLC bought a new stake in Chewy during the fourth quarter worth approximately $2,915,000. Eagle Asset Management Inc. raised its holdings in Chewy by 97.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after acquiring an additional 975,647 shares during the period. Centiva Capital LP acquired a new stake in Chewy in the 3rd quarter worth $2,949,000. Raymond James Financial Inc. acquired a new stake in Chewy in the 4th quarter worth $69,789,000. Finally, Geode Capital Management LLC boosted its position in shares of Chewy by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after acquiring an additional 119,633 shares in the last quarter. Institutional investors own 93.09% of the company’s stock.

Chewy Trading Up 1.0 %

Shares of NYSE:CHWY opened at $32.30 on Thursday. The stock has a 50 day moving average of $36.38 and a 200 day moving average of $32.92. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.09. The company has a market cap of $13.15 billion, a PE ratio of 35.50, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23.

Insider Buying and Selling

In related news, CEO Sumit Singh sold 9,285 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $371,400.00. Following the completion of the sale, the chief executive officer now directly owns 489,750 shares in the company, valued at $19,590,000. This represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Satish Mehta sold 71,365 shares of the 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 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. In the last three months, insiders have sold 8,726,333 shares of company stock valued at $312,843,856. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CHWY. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and boosted their price target for the company from $24.00 to $40.00 in a research report on Wednesday, November 20th. Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and upped their price target for the company from $24.00 to $42.00 in a report on Monday, January 6th. Robert W. Baird increased their target price on shares of Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. JMP Securities reaffirmed a “market outperform” rating and set a $37.00 price target on shares of Chewy in a research report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price target 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. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and an average target price of $37.30.

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.