Chewy Sees Unusually High Options Volume (NYSE:CHWY)

Key Points

• Unusually large call buying: investors purchased 57,315 call options, about 231% above the average volume of 17,329 calls, suggesting speculative or hedged bullish positioning.
• Chewy's Q4 results and upbeat 2026 outlook drove a rally—shares rose $3.01 to $26.46 on heavy volume (about 17.25M shares vs. an ~8.21M average) after the company reported roughly $3.26B in Q4 revenue and highlighted margin expansion.
• Analyst and insider context: the stock carries a consensus "Moderate Buy" rating with a $45.55 price target (17 Buys, 4 Holds), while the CTO recently sold 13,013 shares and insiders now own only ~0.43% of the company.

Chewy (NYSE:CHWY - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock investors bought 57,315 call options on the company. This is an increase of 231% compared to the average volume of 17,329 call options.

Analyst Ratings Changes

Several research firms recently issued reports on CHWY. The Goldman Sachs Group upped their price objective on Chewy from $44.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, December 11th. Raymond James Financial raised Chewy from a "market perform" rating to an "outperform" rating and set a $28.00 price objective on the stock in a research report on Thursday, February 19th. Piper Sandler reaffirmed an "overweight" rating on shares of Chewy in a research note on Thursday, February 5th. TD Cowen decreased their target price on Chewy from $48.00 to $39.00 and set a "buy" rating on the stock in a research report on Tuesday, March 10th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Chewy in a research report on Wednesday, January 21st. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Chewy presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.55.

Insider Activity at Chewy

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

Institutional Investors Weigh In On Chewy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Park Avenue Securities LLC increased its position in shares of Chewy by 4.0% during the 3rd quarter. Park Avenue Securities LLC now owns 7,810 shares of the company's stock worth $316,000 after purchasing an additional 302 shares during the last quarter. Transatlantique Private Wealth LLC raised its stake in shares of Chewy by 3.0% in the 3rd quarter. Transatlantique Private Wealth LLC now owns 10,922 shares of the company's stock valued at $442,000 after acquiring an additional 314 shares during the period. National Bank of Canada FI lifted its holdings in shares of Chewy by 12.5% in the 3rd quarter. National Bank of Canada FI now owns 2,910 shares of the company's stock worth $118,000 after acquiring an additional 324 shares during the last quarter. Angeles Wealth Management LLC increased its holdings in Chewy by 6.6% in the 3rd quarter. Angeles Wealth Management LLC now owns 5,305 shares of the company's stock valued at $215,000 after purchasing an additional 330 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its holdings in Chewy by 3.2% during the 3rd quarter. Sivia Capital Partners LLC now owns 11,072 shares of the company's stock valued at $448,000 after acquiring an additional 343 shares during the period. Hedge funds and other institutional investors own 93.09% of the company's stock.

Chewy Stock Performance

Shares of CHWY stock traded up $3.01 on Wednesday, reaching $26.46. 17,245,279 shares of the company were exchanged, compared to its average volume of 8,213,703. Chewy has a 1 year low of $22.74 and a 1 year high of $48.62. The company has a market cap of $10.98 billion, a price-to-earnings ratio of 55.09, a P/E/G ratio of 1.60 and a beta of 1.60. The business has a 50-day moving average price of $27.30 and a 200 day moving average price of $32.38.

Key Chewy News

Here are the key news stories impacting Chewy this week:

• Positive Sentiment: Q4 results and company outlook drove the rally — Chewy reported fiscal Q4 revenue of roughly $3.26B and highlighted record profitability and an upbeat outlook for 2026, prompting strong investor buying. Chewy Stock Surges On Strong Q4 Results And Guidance
• Positive Sentiment: Management emphasizing margin expansion — CEO commentary and the earnings call highlighted Autoship growth, margin improvement and a roadmap to expanding profitability in 2026, which supports investor confidence in improving cash flow. Chewy CEO Sees Resilient Pet Industry, Expanding Profitability In 2026
• Positive Sentiment: Analyst upgrade and buy arguments — A recent upgrade framed CHWY as undervalued given improving fundamentals, a clean balance sheet, ongoing buybacks and guidance that supports stronger EBITDA and FCF. Chewy: This Is What A Mispriced Growth Stock Looks Like (Upgrade)
• Positive Sentiment: Elevated bullish options flow — Unusually large call buying (roughly 57,315 calls, ~231% above typical volume) suggests speculative/hedged positioning ahead of or after the print, which can amplify upside intraday. Chewy Sees Unusually Large Options Volume NYSE: CHWY
• Neutral Sentiment: Top‑line and EPS were mixed vs. the street — revenue was roughly in line with consensus, while EPS was reported slightly below some estimates (small differences across providers), so the print contained both confirmatory and mixed elements. Chewy (CHWY) Q4 Earnings Miss Estimates
• Neutral Sentiment: 2026 guidance balances growth and margins — management gave a 2026 sales range and an adjusted‑EBITDA margin target that implies faster profit/FCF conversion even if sales guidance was viewed as conservative by some analysts. Chewy: This Is What A Mispriced Growth Stock Looks Like (Upgrade)
• Negative Sentiment: Structural headwinds and investor caution remain — the stock entered 52‑week low territory recently, and public filings show notable insider/institutional reductions in recent quarters, which can cap enthusiasm despite the beat. Chewy stock hits 52-week low at $23.05 as challenges persist

About Chewy

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.

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