Raymond James Financial Services Advisors Inc. Sells 62,266 Shares of Chewy, Inc. (NYSE:CHWY)

Raymond James Financial Services Advisors Inc. lessened its stake in shares of Chewy, Inc. (NYSE:CHWY) by 47.2% in the 4th quarter, Holdings Channel reports. The firm owned 69,573 shares of the company’s stock after selling 62,266 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Chewy were worth $1,644,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CenterBook Partners LP bought a new position in shares of Chewy during the 3rd quarter valued at about $573,000. Rafferty Asset Management LLC boosted its holdings in shares of Chewy by 29.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 19,677 shares of the company’s stock valued at $359,000 after purchasing an additional 4,524 shares during the last quarter. Platinum Investment Management Ltd. bought a new position in shares of Chewy in the 3rd quarter valued at about $1,230,000. Victory Capital Management Inc. grew its position in Chewy by 364.2% in the third quarter. Victory Capital Management Inc. now owns 57,662 shares of the company’s stock worth $1,053,000 after acquiring an additional 45,240 shares in the last quarter. Finally, Marathon Trading Investment Management LLC purchased a new position in Chewy in the third quarter worth about $1,076,000. Institutional investors own 93.09% of the company’s stock.

Chewy Stock Performance

Chewy stock opened at $18.57 on Friday. The company has a 50 day moving average price of $16.93 and a 200-day moving average price of $18.75. Chewy, Inc. has a fifty-two week low of $15.08 and a fifty-two week high of $40.78. The company has a market capitalization of $8.08 billion, a PE ratio of 232.13, a P/E/G ratio of 8.76 and a beta of 0.90.

Insider Buying and Selling

In related news, CAO Stacy Bowman sold 8,025 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $124,628.25. Following the completion of the transaction, the chief accounting officer now owns 243,769 shares of the company’s stock, valued at $3,785,732.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Stacy Bowman sold 8,025 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $124,628.25. Following the completion of the transaction, the chief accounting officer now owns 243,769 shares of the company’s stock, valued at $3,785,732.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Satish Mehta sold 40,523 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total transaction of $717,257.10. Following the completion of the transaction, the chief technology officer now directly owns 557,058 shares of the company’s stock, valued at approximately $9,859,926.60. The disclosure for this sale can be found here. Insiders sold 250,169 shares of company stock valued at $4,396,079 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

CHWY has been the subject of several recent research reports. Barclays upgraded Chewy from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $19.00 to $30.00 in a research report on Thursday, January 11th. Mizuho started coverage on Chewy in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $18.00 price target for the company. The Goldman Sachs Group decreased their price objective on shares of Chewy from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Wedbush reissued an “outperform” rating and issued a $25.00 price objective on shares of Chewy in a research note on Thursday, March 21st. Finally, Jefferies Financial Group decreased their price objective on shares of Chewy from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and an average target price of $27.64.

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