Chewy (NYSE:CHWY) Shares Gap Up to $26.16

Chewy, Inc. (NYSE:CHWY) shares gapped up before the market opened on Friday . The stock had previously closed at $26.16, but opened at $27.05. Chewy shares last traded at $27.08, with a volume of 1,790,963 shares traded.

Wall Street Analyst Weigh In

CHWY has been the subject of a number of analyst reports. Argus downgraded shares of Chewy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Wedbush reiterated an “outperform” rating and set a $35.00 target price on shares of Chewy in a report on Thursday, August 29th. Wolfe Research assumed coverage on Chewy in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Needham & Company LLC boosted their target price on shares of Chewy from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.15.

Chewy Stock Up 3.3 %

The stock has a fifty day moving average price of $25.58 and a two-hundred day moving average price of $20.84. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 145.44, a P/E/G ratio of 3.69 and a beta of 1.04.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 2,894 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $64,362.56. Following the transaction, the chief technology officer now owns 573,463 shares in the company, valued at approximately $12,753,817.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of Chewy stock in a transaction on Monday, July 1st. The stock was sold at an average price of $30.32, for a total value of $40,576,103.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Satish Mehta sold 2,894 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $64,362.56. Following the sale, the chief technology officer now directly owns 573,463 shares in the company, valued at $12,753,817.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,906,141 shares of company stock valued at $540,973,233. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EntryPoint Capital LLC raised its position in shares of Chewy by 18.0% in the 1st quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after buying an additional 619 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Chewy by 3.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock valued at $451,000 after purchasing an additional 870 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Chewy by 10.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock worth $308,000 after purchasing an additional 1,029 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Chewy in the 2nd quarter valued at $33,000. Finally, Camelot Portfolios LLC increased its stake in shares of Chewy by 14.0% in the 1st quarter. Camelot Portfolios LLC now owns 10,200 shares of the company’s stock valued at $162,000 after purchasing an additional 1,249 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

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.