Oppenheimer & Co. Inc. grew its holdings in shares of Chewy, Inc. (NYSE:CHWY – Get Rating) by 56.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,402 shares of the company’s stock after purchasing an additional 9,130 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Chewy were worth $882,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Elequin Capital LP purchased a new position in shares of Chewy in the 1st quarter worth $25,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Chewy by 320.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 840 shares of the company’s stock worth $34,000 after buying an additional 640 shares during the period. Prospera Financial Services Inc purchased a new position in shares of Chewy in the 1st quarter worth $34,000. MBM Wealth Consultants LLC purchased a new position in shares of Chewy in the 1st quarter worth $41,000. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Chewy in the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 99.39% of the company’s stock.
Chewy Stock Performance
NYSE:CHWY opened at $43.21 on Tuesday. The company has a market capitalization of $18.27 billion, a price-to-earnings ratio of -308.62 and a beta of 0.62. Chewy, Inc. has a one year low of $22.22 and a one year high of $77.59. The stock has a 50-day simple moving average of $35.48 and a 200 day simple moving average of $35.44.
Insider Buying and Selling
In related news, CEO Sumit Singh sold 11,748 shares of Chewy stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $40.46, for a total value of $475,324.08. Following the completion of the transaction, the chief executive officer now directly owns 47,613 shares in the company, valued at $1,926,421.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.
Analyst Ratings Changes
CHWY has been the topic of several research reports. Evercore ISI cut their target price on Chewy to $54.00 in a research report on Tuesday, September 6th. Wedbush cut their price objective on Chewy from $44.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 31st. Oppenheimer assumed coverage on Chewy in a research report on Thursday, October 6th. They issued an “outperform” rating and a $42.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Chewy from $56.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 31st. Finally, Barclays raised their price objective on Chewy from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, August 29th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.61.
Chewy Company Profile
Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company 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 www.chewy.com retail Website, as well as its mobile applications.
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