Olympiad Research LP Acquires Shares of 13,900 Chewy, Inc. (NYSE:CHWY)

Olympiad Research LP acquired a new stake in Chewy, Inc. (NYSE:CHWY) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 13,900 shares of the company’s stock, valued at approximately $466,000.

Several other large investors have also recently added to or reduced their stakes in the stock. FMR LLC increased its stake 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. ArrowMark Colorado Holdings LLC increased its stake in Chewy by 5.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock valued at $81,014,000 after buying an additional 138,768 shares during the period. Eagle Asset Management Inc. increased its stake in shares of Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Chewy by 134.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company’s stock worth $54,281,000 after purchasing an additional 929,116 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake 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 worth $45,443,000 after purchasing an additional 119,633 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Insider Buying and Selling at Chewy

In other news, CTO Satish Mehta sold 8,056 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the transaction, the chief technology officer now owns 585,962 shares in the company, valued at approximately $19,612,148.14. This represents a 1.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total transaction of $620,989,219.44. The disclosure for this sale can be found here. Insiders sold a total of 28,561,427 shares of company stock valued at $933,874,848 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $24.00 to $42.00 in a research note on Monday, January 6th. Piper Sandler increased their price target on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. Guggenheim set a $42.00 price target on shares of Chewy and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and an average target price of $37.30.

Chewy Price Performance

Shares of Chewy stock opened at $35.03 on Friday. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $40.09. The firm has a fifty day moving average price of $36.45 and a two-hundred day moving average price of $31.90. The company has a market cap of $14.26 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the prior year, the firm earned ($0.08) EPS. The business’s revenue was up 5.2% on a year-over-year basis. Analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

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.