Parallel Advisors LLC Buys 473 Shares of Chewy, Inc. (NYSE:CHWY)

Parallel Advisors LLC grew its holdings in Chewy, Inc. (NYSE:CHWY) by 150.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 788 shares of the company’s stock after buying an additional 473 shares during the quarter. Parallel Advisors LLC’s holdings in Chewy were worth $26,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CHWY. Vanguard Group Inc. grew its stake in shares of Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock worth $485,093,000 after acquiring an additional 3,493,926 shares during the last quarter. Durable Capital Partners LP bought a new stake in shares of Chewy during the fourth quarter valued at approximately $79,050,000. Invesco Ltd. grew its holdings in Chewy by 4,577.5% during the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock valued at $73,381,000 after buying an additional 2,144,302 shares in the last quarter. Raymond James Financial Inc. bought a new position in Chewy during the fourth quarter valued at $69,789,000. Finally, Alyeska Investment Group L.P. increased its stake in Chewy by 6,336.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,609,149 shares of the company’s stock worth $53,890,000 after acquiring an additional 1,584,149 shares during the last quarter. 93.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CHWY. The Goldman Sachs Group upped their price target on shares of Chewy from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, March 27th. UBS Group lifted their price target on shares of Chewy from $36.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, June 5th. Jefferies Financial Group reissued a “hold” rating and set a $43.00 price objective (up from $41.00) on shares of Chewy in a report on Thursday, June 5th. Cowen reiterated a “buy” rating on shares of Chewy in a research note on Friday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Chewy in a research note on Thursday, March 27th. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.22.

Chewy Stock Performance

CHWY opened at $46.40 on Tuesday. The business’s 50 day moving average price is $39.01 and its 200 day moving average price is $36.44. The stock has a market capitalization of $19.19 billion, a PE ratio of 50.99, a P/E/G ratio of 2.21 and a beta of 1.75. Chewy, Inc. has a one year low of $19.75 and a one year high of $48.62.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.25. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share. As a group, equities research analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 8,552 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total value of $285,209.20. Following the transaction, the chief executive officer now directly owns 62,096 shares in the company, valued at $2,070,901.60. This represents a 12.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David Reeder sold 11,582 shares of Chewy stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $36.44, for a total value of $422,048.08. Following the sale, the chief financial officer now owns 397,556 shares in the company, valued at $14,486,940.64. This trade represents a 2.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,046 shares of company stock worth $9,387,635 over the last 90 days. 0.43% of the stock is owned by 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.