PFG Investments LLC Boosts Holdings in Chewy, Inc. (NYSE:CHWY)

PFG Investments LLC raised its holdings in Chewy, Inc. (NYSE:CHWY) by 22.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,189 shares of the company’s stock after purchasing an additional 2,416 shares during the period. PFG Investments LLC’s holdings in Chewy were worth $359,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in shares of Chewy during the second quarter valued at $33,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Chewy during the 2nd quarter worth about $44,000. First Horizon Advisors Inc. acquired a new stake in shares of Chewy during the 2nd quarter worth about $48,000. Skylands Capital LLC purchased a new stake in shares of Chewy during the second quarter worth about $52,000. Finally, Quest Partners LLC acquired a new position in shares of Chewy in the fourth quarter valued at approximately $65,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Sumit Singh sold 14,338 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the completion of the sale, the chief executive officer now owns 1,398,271 shares in the company, valued at $31,097,547.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Sumit Singh sold 14,338 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Satish Mehta sold 2,894 shares of the firm’s stock in a transaction 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 sale, the chief technology officer now directly owns 573,463 shares of the company’s stock, valued at $12,753,817.12. The disclosure for this sale can be found here. Insiders have sold a total of 18,906,141 shares of company stock worth $540,973,233 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on CHWY. Bank of America lifted their target price on shares of Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Evercore ISI raised their price target on Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Guggenheim upped their price objective on shares of Chewy from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Argus lowered shares of Chewy from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and a consensus target price of $29.11.

Chewy Trading Up 2.3 %

Shares of Chewy stock opened at $30.93 on Friday. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10. The stock has a market cap of $13.45 billion, a price-to-earnings ratio of 171.83, a price-to-earnings-growth ratio of 2.61 and a beta of 1.04. The company has a fifty day moving average price of $25.90 and a 200 day moving average price of $21.26.

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.