nVerses Capital LLC Buys New Position in Chewy, Inc. (NYSE:CHWY)

nVerses Capital LLC purchased a new stake in Chewy, Inc. (NYSE:CHWY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,300 shares of the company’s stock, valued at approximately $90,000.

Several other large investors have also bought and sold shares of CHWY. Massachusetts Financial Services Co. MA purchased a new stake in shares of Chewy in the fourth quarter valued at about $42,223,000. Baillie Gifford & Co. grew its position in Chewy by 7.2% in the 1st quarter. Baillie Gifford & Co. now owns 19,819,195 shares of the company’s stock worth $315,323,000 after purchasing an additional 1,336,431 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Chewy by 13.5% during the 4th quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock worth $226,959,000 after buying an additional 1,140,269 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Chewy by 127.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock worth $27,328,000 after buying an additional 963,540 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of Chewy in the second quarter valued at approximately $14,380,000. 93.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley boosted their price objective on Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. increased their price target on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Wolfe Research started coverage on shares of Chewy in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Raymond James cut shares of Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Finally, Citigroup raised their price target on shares of Chewy from $16.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.15.

Chewy Price Performance

CHWY opened at $28.00 on Wednesday. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10. The stock’s 50 day simple moving average is $25.68 and its 200 day simple moving average is $20.76. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of 155.56, a PEG ratio of 3.69 and a beta of 1.03.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 2,894 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $64,362.56. Following the completion of the sale, the chief technology officer now owns 573,463 shares of the company’s stock, valued at approximately $12,753,817.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total transaction of $499,999,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Satish Mehta sold 2,894 shares of Chewy stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $64,362.56. Following the sale, the chief technology officer now directly owns 573,463 shares in the company, valued at approximately $12,753,817.12. The disclosure for this sale can be found here. Insiders have sold a total of 18,906,141 shares of company stock valued at $540,973,233 over the last three months. 2.10% of the stock is owned by company insiders.

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 websites and mobile applications.