Scientech Research LLC Invests $369,000 in Chewy, Inc. (NYSE:CHWY)

Scientech Research LLC purchased a new stake in shares of Chewy, Inc. (NYSE:CHWY) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 13,545 shares of the company’s stock, valued at approximately $369,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new position in shares of Chewy during the second quarter valued at approximately $33,000. Industrial Alliance Investment Management Inc. bought a new position in Chewy in the second quarter worth about $44,000. First Horizon Advisors Inc. purchased a new stake in Chewy in the second quarter worth about $48,000. Skylands Capital LLC bought a new stake in Chewy during the 2nd quarter valued at approximately $52,000. Finally, nVerses Capital LLC purchased a new stake in Chewy in the second quarter worth $90,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Trading Up 1.1 %

NYSE:CHWY opened at $29.96 on Monday. The stock has a 50-day moving average price of $26.92 and a 200 day moving average price of $22.32. The stock has a market capitalization of $13.03 billion, a P/E ratio of 166.44, a P/E/G ratio of 2.98 and a beta of 1.04. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.10.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.86 billion. On average, research analysts predict that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the completion of the sale, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at approximately $31,097,547.04. The disclosure for this sale can be found here. Insiders have sold a total of 26,888,627 shares of company stock worth $790,397,620 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Raymond James cut Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Mizuho upped their price target on shares of Chewy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, June 10th. Guggenheim raised their price objective on shares of Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Barclays upped their target price on shares of Chewy from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.11.

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 websites and mobile applications.