Chewy $CHWY Shares Sold by Algert Global LLC

Algert Global LLC cut its stake in Chewy (NYSE:CHWY) by 19.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 255,874 shares of the company’s stock after selling 63,292 shares during the period. Algert Global LLC owned about 0.06% of Chewy worth $10,350,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Alliancebernstein L.P. increased its position in Chewy by 62.0% during the third quarter. Alliancebernstein L.P. now owns 406,822 shares of the company’s stock worth $16,456,000 after buying an additional 155,652 shares during the period. Viking Global Investors LP acquired a new stake in shares of Chewy in the third quarter valued at approximately $221,815,000. Creative Planning grew its position in shares of Chewy by 589.4% during the third quarter. Creative Planning now owns 84,726 shares of the company’s stock worth $3,427,000 after acquiring an additional 72,436 shares during the last quarter. AQR Capital Management LLC boosted its stake in Chewy by 120.2% during the 3rd quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock worth $407,948,000 after purchasing an additional 5,564,803 shares during the period. Finally, Credit Agricole S A acquired a new stake in Chewy during the 3rd quarter worth $2,449,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Satish Mehta sold 13,013 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $28.99, for a total transaction of $377,246.87. Following the transaction, the chief technology officer owned 273,835 shares of the company’s stock, valued at $7,938,476.65. This represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.43% of the stock is owned by corporate insiders.

Chewy Trading Up 3.5%

Shares of CHWY opened at $25.46 on Monday. Chewy has a twelve month low of $23.06 and a twelve month high of $48.62. The stock’s 50 day moving average is $28.46 and its two-hundred day moving average is $33.21. The firm has a market capitalization of $10.57 billion, a PE ratio of 53.04, a P/E/G ratio of 1.72 and a beta of 1.60.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CHWY shares. TD Cowen dropped their price objective on shares of Chewy from $48.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chewy in a research note on Wednesday, January 21st. Citigroup reaffirmed a “market outperform” rating on shares of Chewy in a research report on Monday, November 24th. UBS Group set a $51.00 target price on Chewy in a research note on Tuesday, January 13th. Finally, Wedbush set a $42.00 target price on Chewy and gave the company an “outperform” rating in a report on Wednesday, December 10th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.55.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.