Chewy (NYSE:CHWY) Given New $45.00 Price Target at Needham & Company LLC

Chewy (NYSE:CHWY) had its price target reduced by Needham & Company LLC from $55.00 to $45.00 in a research report report published on Thursday morning, MarketBeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

CHWY has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft raised their price target on Chewy from $35.00 to $37.00 in a research report on Thursday, June 1st. Royal Bank of Canada decreased their target price on Chewy from $56.00 to $44.00 and set an outperform rating on the stock in a research report on Thursday. Wedbush decreased their target price on Chewy from $45.00 to $31.00 and set an outperform rating on the stock in a research report on Friday, August 25th. UBS Group decreased their target price on Chewy from $26.00 to $25.00 and set a sell rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on Chewy from $56.00 to $48.00 and set an overweight rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $38.95.

Chewy Stock Performance

CHWY opened at $23.98 on Thursday. Chewy has a fifty-two week low of $23.03 and a fifty-two week high of $52.88. The company has a market capitalization of $10.25 billion, a P/E ratio of 199.79, a P/E/G ratio of 201.39 and a beta of 0.85. The stock has a fifty day moving average of $33.24 and a 200-day moving average of $35.37.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, May 31st. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.12. Chewy had a return on equity of 39.90% and a net margin of 0.51%. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.73 billion.

Insider Buying and Selling at Chewy

In other Chewy news, CTO Satish Mehta sold 25,445 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $39.72, for a total value of $1,010,675.40. Following the transaction, the chief technology officer now directly owns 521,470 shares of the company’s stock, valued at $20,712,788.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Mario Jesus Marte sold 32,447 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $39.72, for a total value of $1,288,794.84. Following the transaction, the chief financial officer now directly owns 336,817 shares in the company, valued at approximately $13,378,371.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Satish Mehta sold 25,445 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $39.72, for a total value of $1,010,675.40. Following the completion of the transaction, the chief technology officer now owns 521,470 shares in the company, valued at $20,712,788.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,798 shares of company stock valued at $12,007,357. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chewy

A number of institutional investors and hedge funds have recently bought and sold shares of CHWY. FMR LLC raised its position in Chewy by 133,340.6% in the 1st quarter. FMR LLC now owns 1,760,081 shares of the company’s stock valued at $65,792,000 after buying an additional 1,758,762 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Chewy during the 2nd quarter valued at $43,662,000. Brown Advisory Inc. increased its position in shares of Chewy by 16.5% during the 1st quarter. Brown Advisory Inc. now owns 6,711,811 shares of the company’s stock valued at $250,887,000 after purchasing an additional 952,703 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Chewy by 19.0% during the 1st quarter. Wellington Management Group LLP now owns 5,369,539 shares of the company’s stock valued at $218,969,000 after purchasing an additional 856,909 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Chewy by 36.5% during the 4th quarter. Marshall Wace LLP now owns 2,587,868 shares of the company’s stock valued at $95,958,000 after purchasing an additional 692,631 shares during the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

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 Website www.chewy.com, as well as mobile applications.