Needham & Company LLC Reaffirms “Hold” Rating for Chewy (NYSE:CHWY)

Chewy (NYSE:CHWY)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

CHWY has been the topic of several other reports. Wedbush reissued an “outperform” rating and set a $39.00 price objective on shares of Chewy in a report on Monday, March 17th. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and increased their target price for the company from $34.00 to $47.00 in a research report on Monday, January 13th. UBS Group boosted their price target on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.95.

Chewy Price Performance

Shares of Chewy stock opened at $33.30 on Thursday. The stock has a market cap of $13.56 billion, a price-to-earnings ratio of 36.60, a PEG ratio of 2.21 and a beta of 1.23. The firm’s 50-day moving average is $36.09 and its two-hundred day moving average is $33.14. Chewy has a 1 year low of $14.69 and a 1 year high of $40.09.

Insiders Place Their Bets

In related news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $35.77, for a total value of $250,390,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sumit Singh sold 9,285 shares of Chewy stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $40.00, for a total transaction of $371,400.00. Following the sale, the chief executive officer now owns 489,750 shares of the company’s stock, valued at approximately $19,590,000. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,083,269 shares of company stock valued at $290,611,129. 2.10% of the stock is owned by company insiders.

Institutional Trading of Chewy

A number of hedge funds have recently modified their holdings of CHWY. California State Teachers Retirement System lifted its holdings in Chewy by 16.5% in the fourth quarter. California State Teachers Retirement System now owns 155,785 shares of the company’s stock valued at $5,217,000 after acquiring an additional 22,033 shares during the period. Centaurus Financial Inc. purchased a new position in shares of Chewy during the 4th quarter valued at approximately $154,000. Integrated Advisors Network LLC acquired a new position in shares of Chewy in the 4th quarter valued at $235,000. Polar Asset Management Partners Inc. boosted its holdings in Chewy by 26.5% during the fourth quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company’s stock worth $9,670,000 after buying an additional 60,533 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Chewy during the fourth quarter valued at $318,000. Hedge funds and other institutional investors 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.