Chewy Sees Unusually Large Options Volume (NYSE:CHWY)

Chewy, Inc. (NYSE:CHWY) was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 47,690 call options on the stock. This represents an increase of 30% compared to the average volume of 36,769 call options.

Chewy Price Performance

NYSE:CHWY traded down $0.05 during trading hours on Tuesday, hitting $33.58. The company’s stock had a trading volume of 8,157,026 shares, compared to its average volume of 8,587,870. Chewy has a twelve month low of $14.69 and a twelve month high of $39.10. The stock has a fifty day simple moving average of $30.16 and a 200-day simple moving average of $26.75. The company has a market capitalization of $14.04 billion, a P/E ratio of 41.49, a PEG ratio of 3.13 and a beta of 1.12.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Castellan Group bought a new stake in Chewy in the third quarter valued at approximately $5,282,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Chewy during the third quarter valued at about $63,000. Virtu Financial LLC bought a new position in shares of Chewy in the third quarter valued at approximately $795,000. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 119,633 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in Chewy by 19.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 58,661 shares of the company’s stock worth $1,718,000 after purchasing an additional 9,548 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Evercore ISI increased their price target on Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Piper Sandler increased their price objective on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday. Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised their price objective 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. Finally, Royal Bank of Canada increased their target price on Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.80.

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.