Catalyst Funds Management Pty Ltd Increases Position in Chewy, Inc. (NYSE:CHWY)

Catalyst Funds Management Pty Ltd raised its position in shares of Chewy, Inc. (NYSE:CHWY) by 211.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,000 shares of the company’s stock after buying an additional 9,500 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Chewy were worth $469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp boosted its holdings in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after acquiring an additional 444 shares during the period. Blue Trust Inc. boosted its stake in shares of Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Chewy in the third quarter valued at approximately $63,000. Allworth Financial LP increased its stake in Chewy by 52.0% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after buying an additional 650 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in Chewy during the 4th quarter worth approximately $86,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Price Performance

CHWY stock opened at $33.29 on Friday. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09. The company has a market cap of $13.55 billion, a price-to-earnings ratio of 36.58, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. The company has a fifty day moving average price of $36.61 and a 200 day moving average price of $32.84.

Analyst Ratings Changes

A number of analysts have recently weighed in on CHWY shares. Argus raised Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and upped their price target for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Piper Sandler upped their target price on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Chewy presently has an average rating of “Moderate Buy” and a consensus price target of $37.30.

Insider Activity

In other news, CEO Sumit Singh sold 71,161 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the sale, the chief executive officer now owns 77,838 shares in the company, valued at $2,529,735. This represents a 47.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the completion of the transaction, the chief technology officer now owns 262,853 shares in the company, valued at approximately $9,357,566.80. This trade represents a 21.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,797,494 shares of company stock valued at $315,156,588. Insiders own 2.10% of the company’s stock.

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.