Stock Traders Purchase Large Volume of Chewy Call Options (NYSE:CHWY)

Chewy, Inc. (NYSE:CHWYGet Free Report) was the target of unusually large options trading activity on Wednesday. Stock traders purchased 107,012 call options on the company. This is an increase of approximately 58% compared to the average daily volume of 67,846 call options.

Chewy Trading Up 2.4 %

Chewy stock opened at $25.41 on Thursday. The stock has a market cap of $11.05 billion, a PE ratio of 141.17, a P/E/G ratio of 3.71 and a beta of 1.03. The stock has a 50-day moving average price of $21.33 and a 200 day moving average price of $19.12. Chewy has a 52 week low of $14.69 and a 52 week high of $39.46.

Chewy (NYSE:CHWYGet Free Report) last posted its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. On average, equities analysts predict that Chewy will post 0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CHWY. Raymond James upped their target price on shares of Chewy from $19.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Morgan Stanley increased their price objective on Chewy from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. UBS Group increased their price objective on Chewy from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Evercore ISI increased their price target on Chewy from $19.00 to $22.00 and gave the stock an “in-line” rating in a report on Friday, May 31st. Finally, JPMorgan Chase & Co. raised their target price on Chewy from $22.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned 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 $26.50.

Read Our Latest Research Report on Chewy

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 46,090 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $696,880.80. Following the transaction, the chief executive officer now directly owns 1,379,100 shares in the company, valued at approximately $20,851,992. The disclosure for this sale can be found here. Insiders sold 18,942,371 shares of company stock valued at $541,393,732 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Chewy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHWY. Headinvest LLC acquired a new position in Chewy during the 3rd quarter worth approximately $39,000. Quest Partners LLC bought a new position in Chewy during the 4th quarter worth $65,000. Future Financial Wealth Managment LLC bought a new position in Chewy during the 1st quarter worth $65,000. EntryPoint Capital LLC grew its stake in Chewy by 18.0% during the 1st quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock worth $65,000 after buying an additional 619 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Chewy by 37.8% during the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after acquiring an additional 922 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.

About Chewy

(Get Free Report)

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.

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