Wealthfront Advisers LLC Makes New Investment in Chewy, Inc. (NYSE:CHWY)

Wealthfront Advisers LLC purchased a new stake in Chewy, Inc. (NYSE:CHWY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,373,625 shares of the company’s stock, valued at approximately $46,003,000. Wealthfront Advisers LLC owned about 0.34% of Chewy as of its most recent SEC filing.

Several other large investors have also modified their holdings of CHWY. Mutual of America Capital Management LLC acquired a new stake in Chewy during the 4th quarter worth $2,915,000. Eagle Asset Management Inc. grew its position in Chewy by 97.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after buying an additional 975,647 shares during the last quarter. Centiva Capital LP acquired a new stake in shares of Chewy in the 3rd quarter worth $2,949,000. Geode Capital Management LLC lifted its position in Chewy by 8.4% in the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after purchasing an additional 119,633 shares during the period. Finally, Birch Hill Investment Advisors LLC purchased a new stake in Chewy in the 4th quarter valued at approximately $1,174,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Stock Performance

Shares of CHWY opened at $31.76 on Tuesday. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.09. The company’s 50 day simple moving average is $36.71 and its 200 day simple moving average is $32.69.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CHWY shares. UBS Group increased their target price on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. increased their price objective on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Argus upgraded shares of Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. BNP Paribas downgraded shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.30.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $31.32, for a total transaction of $620,989,219.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 9,285 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $19,590,000. This represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,624,736 shares of company stock worth $936,145,808. 2.10% of the stock is currently owned by insiders.

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.