Future Fund LLC Purchases 35,081 Shares of Chewy $CHWY

Future Fund LLC raised its position in shares of Chewy (NYSE:CHWY) by 90.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,868 shares of the company’s stock after acquiring an additional 35,081 shares during the period. Future Fund LLC’s holdings in Chewy were worth $1,994,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Osterweis Capital Management Inc. bought a new stake in shares of Chewy in the 2nd quarter worth about $30,000. CoreCap Advisors LLC grew its holdings in Chewy by 306.2% during the 4th quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock valued at $28,000 after purchasing an additional 637 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Chewy in the 4th quarter worth about $31,000. Harbour Investments Inc. raised its position in Chewy by 81.4% in the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock worth $30,000 after purchasing an additional 407 shares during the period. Finally, Modus Advisors LLC purchased a new stake in Chewy in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Da-Wai Hu sold 4,203 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $19.49, for a total value of $81,916.47. Following the completion of the sale, the general counsel owned 4,103 shares in the company, valued at approximately $79,967.47. The trade was a 50.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sumit Singh sold 83,306 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $25.60, for a total value of $2,132,633.60. Following the completion of the transaction, the chief executive officer directly owned 874,061 shares in the company, valued at approximately $22,375,961.60. This trade represents a 8.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 91,729 shares of company stock worth $2,322,582. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CHWY shares. The Goldman Sachs Group dropped their target price on Chewy from $46.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, June 12th. Raymond James Financial reiterated a “buy” rating on shares of Chewy in a report on Wednesday, June 10th. JPMorgan Chase & Co. decreased their price target on Chewy from $35.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, June 11th. TD Cowen restated a “buy” rating on shares of Chewy in a report on Tuesday, June 23rd. Finally, Robert W. Baird cut their price objective on Chewy from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.05.

Chewy Price Performance

Shares of CHWY opened at $20.88 on Friday. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 1.09 and a beta of 1.45. Chewy has a 1-year low of $17.40 and a 1-year high of $43.50. The company has a 50-day moving average of $20.35 and a 200 day moving average of $25.07.

Chewy Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.