Senvest Management LLC Takes Position in Chewy $CHWY

Senvest Management LLC purchased a new position in Chewy (NYSE:CHWY) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 410,000 shares of the company’s stock, valued at approximately $11,070,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its holdings in Chewy by 3.0% in the first quarter. Public Employees Retirement System of Ohio now owns 67,728 shares of the company’s stock valued at $1,829,000 after purchasing an additional 1,987 shares during the last quarter. Lido Advisors LLC acquired a new position in Chewy in the first quarter valued at about $242,000. Cetera Investment Advisers boosted its holdings in Chewy by 20.3% during the first quarter. Cetera Investment Advisers now owns 85,758 shares of the company’s stock worth $2,315,000 after buying an additional 14,450 shares during the last quarter. Militia Capital Management LLC bought a new position in Chewy during the first quarter worth about $828,000. Finally, Earned Wealth Advisors LLC acquired a new position in shares of Chewy during the 1st quarter worth about $380,000. 93.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CHWY has been the subject of a number of recent analyst reports. Wall Street Zen cut Chewy from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. TD Cowen reissued a “buy” rating on shares of Chewy in a research note on Tuesday, June 23rd. Royal Bank Of Canada decreased their price objective on shares of Chewy from $47.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, June 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research note on Thursday, June 11th. Finally, Mizuho cut their target price on shares of Chewy from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and a consensus target price of $32.05.

Insider Activity

In related news, CEO Sumit Singh sold 83,306 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $25.60, for a total value of $2,132,633.60. Following the completion of the transaction, the chief executive officer directly owned 874,061 shares in the company, valued at approximately $22,375,961.60. The trade was a 8.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Da-Wai Hu sold 4,203 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $19.49, for a total value of $81,916.47. Following the completion of the transaction, the general counsel owned 4,103 shares of the company’s stock, valued at $79,967.47. This represents a 50.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 91,729 shares of company stock worth $2,322,582 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Chewy Trading Up 2.1%

NYSE:CHWY opened at $20.89 on Friday. Chewy has a 1 year low of $17.40 and a 1 year high of $43.50. The stock has a 50-day moving average price of $20.28 and a two-hundred day moving average price of $24.65. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 1.03 and a beta of 1.45.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.