Pictet Asset Management Holding SA Purchases 7,419 Shares of Chewy, Inc. (NYSE:CHWY)

Pictet Asset Management Holding SA raised its position in Chewy, Inc. (NYSE:CHWY) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 515,999 shares of the company’s stock after acquiring an additional 7,419 shares during the period. Pictet Asset Management Holding SA owned approximately 0.13% of Chewy worth $17,281,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CHWY. Norges Bank acquired a new stake in shares of Chewy in the 4th quarter worth $3,007,000. WINTON GROUP Ltd acquired a new stake in Chewy in the fourth quarter worth about $1,512,000. Artisan Partners Limited Partnership purchased a new stake in shares of Chewy during the fourth quarter worth about $10,164,000. EntryPoint Capital LLC acquired a new position in shares of Chewy during the fourth quarter valued at about $203,000. Finally, Corebridge Financial Inc. purchased a new position in shares of Chewy in the 4th quarter valued at approximately $6,208,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chewy

In related news, CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction dated 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 sale, the chief technology officer now directly owns 262,853 shares in the company, valued at approximately $9,357,566.80. The trade was a 21.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David Reeder sold 307,558 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $37.48, for a total value of $11,527,273.84. Following the transaction, the chief financial officer now directly owns 546,257 shares of the company’s stock, valued at $20,473,712.36. The trade was a 36.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,083,269 shares of company stock valued at $290,611,129 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CHWY shares. Citigroup upped their price target on shares of Chewy from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Barclays boosted their price target on Chewy from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Thursday, March 27th. Evercore ISI upgraded Chewy from an “in-line” rating to an “outperform” rating and upped their target price for the company from $34.00 to $47.00 in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.68.

Chewy Trading Up 3.2 %

Shares of CHWY opened at $33.54 on Wednesday. The firm has a market cap of $13.66 billion, a P/E ratio of 36.85, a PEG ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09. The stock’s 50 day moving average is $35.74 and its two-hundred day moving average is $33.25.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS. Equities research analysts forecast that Chewy, Inc. will post 0.24 EPS for the current year.

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.