Chewy, Inc. (NYSE:CHWY) Short Interest Update

Chewy, Inc. (NYSE:CHWY) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 13,400,000 shares, an increase of 32.8% from the October 31st total of 10,090,000 shares. Based on an average daily trading volume, of 6,390,000 shares, the days-to-cover ratio is currently 2.1 days.

Analyst Upgrades and Downgrades

CHWY has been the topic of several research reports. Evercore ISI raised their price objective on Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Piper Sandler reiterated an “overweight” rating and issued a $35.00 price objective on shares of Chewy in a research note on Friday, September 20th. Barclays raised their target price on shares of Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Wedbush reiterated an “outperform” rating and set a $35.00 price target on shares of Chewy in a research note on Thursday, August 29th. Finally, Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $28.00 to $40.00 in a research note on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.35.

Chewy Trading Up 0.2 %

Shares of CHWY opened at $33.41 on Monday. The firm’s 50-day moving average is $30.16 and its two-hundred day moving average is $26.75. Chewy has a twelve month low of $14.69 and a twelve month high of $39.10. The firm has a market capitalization of $13.97 billion, a P/E ratio of 40.74, a PEG ratio of 3.13 and a beta of 1.06.

Insider Transactions at Chewy

In other 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 value of $36,750,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Chewy by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 10,480,230 shares of the company’s stock worth $166,740,000 after buying an additional 875,532 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Chewy by 3.2% in 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. California State Teachers Retirement System grew its position in shares of Chewy by 2.2% in the first quarter. California State Teachers Retirement System now owns 108,448 shares of the company’s stock valued at $1,725,000 after purchasing an additional 2,321 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Chewy during the 1st quarter worth approximately $388,000. Finally, Swedbank AB acquired a new position in shares of Chewy during the 1st quarter worth approximately $416,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.