Private Advisor Group LLC Makes New $423,000 Investment in Chewy, Inc. (NYSE:CHWY)

Private Advisor Group LLC purchased a new position in Chewy, Inc. (NYSE:CHWY) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,312 shares of the company’s stock, valued at approximately $423,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Chewy by 1.5% in the third quarter. Vanguard Group Inc. now owns 7,322,115 shares of the company’s stock worth $224,936,000 after acquiring an additional 111,193 shares in the last quarter. Brown Advisory Inc. raised its position in Chewy by 16.5% in the first quarter. Brown Advisory Inc. now owns 6,711,811 shares of the company’s stock worth $250,887,000 after acquiring an additional 952,703 shares in the last quarter. Wellington Management Group LLP raised its position in Chewy by 19.0% in the first quarter. Wellington Management Group LLP now owns 5,369,539 shares of the company’s stock worth $218,969,000 after acquiring an additional 856,909 shares in the last quarter. Marshall Wace LLP raised its position in Chewy by 36.5% in the fourth quarter. Marshall Wace LLP now owns 2,587,868 shares of the company’s stock worth $95,958,000 after acquiring an additional 692,631 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in Chewy by 4.3% in the fourth quarter. Macquarie Group Ltd. now owns 2,483,705 shares of the company’s stock worth $92,096,000 after acquiring an additional 102,576 shares in the last quarter. 98.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Stacy Bowman sold 15,166 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $33.52, for a total value of $508,364.32. Following the completion of the sale, the chief accounting officer now directly owns 224,389 shares in the company, valued at approximately $7,521,519.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sumit Singh sold 70,677 shares of the company’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 transaction of $2,807,290.44. Following the completion of the transaction, the chief executive officer now directly owns 1,062,616 shares in the company, valued at $42,207,107.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Stacy Bowman sold 15,166 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $33.52, for a total value of $508,364.32. Following the transaction, the chief accounting officer now owns 224,389 shares of the company’s stock, valued at $7,521,519.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,798 shares of company stock worth $12,007,357. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CHWY shares. UBS Group dropped their price target on Chewy from $26.00 to $25.00 and set a “sell” rating on the stock in a research note on Thursday. The Goldman Sachs Group raised Chewy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $39.00 to $50.00 in a research note on Monday, July 17th. Oppenheimer dropped their price target on Chewy from $50.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday. Gordon Haskett raised Chewy from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Thursday, June 1st. Finally, Morgan Stanley dropped their price target on Chewy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.45.

Chewy Stock Performance

Shares of NYSE CHWY opened at $24.67 on Monday. The business has a 50 day simple moving average of $32.95 and a 200 day simple moving average of $35.03. Chewy, Inc. has a 52 week low of $23.03 and a 52 week high of $52.88. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of 224.27, a PEG ratio of 201.39 and a beta of 0.91.

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