Chewy Target of Unusually Large Options Trading (NYSE:CHWY)

Key Points

• Unusually large options activity: Traders bought 22,581 put options on Chewy on Monday, roughly a 39% increase versus typical put volume, indicating elevated bearish positioning.
• Analyst sentiment vs. price: The stock carries a consensus rating of "Moderate Buy" (17 Buys, 4 Holds) with an average price target of $45.55, well above the current share price of about $23.65.
• Insider selling and stock context: CTO Satish Mehta sold 13,013 shares (~$377k), the stock is trading near its 12‑month low ($23.06), and institutional investors own roughly 93.09% of shares.

Chewy (NYSE:CHWY - Get Free Report) was the target of unusually large options trading activity on Monday. Stock investors acquired 22,581 put options on the company. This represents an increase of approximately 39% compared to the typical volume of 16,300 put options.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of Chewy in a research note on Wednesday, January 21st. Wall Street Zen raised Chewy from a "hold" rating to a "buy" rating in a report on Saturday, February 14th. Needham & Company LLC restated a "hold" rating on shares of Chewy in a research report on Thursday, December 11th. Piper Sandler reaffirmed an "overweight" rating on shares of Chewy in a research note on Thursday, February 5th. Finally, Wolfe Research set a $44.00 target price on Chewy in a research report on Monday, January 5th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $45.55.

Insider Buying and Selling at Chewy

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

Institutional Trading of Chewy

A number of institutional investors have recently made changes to their positions in the company. Quent Capital LLC acquired a new stake in Chewy during the 3rd quarter worth $27,000. Osterweis Capital Management Inc. acquired a new stake in shares of Chewy in the second quarter valued at about $30,000. CoreCap Advisors LLC lifted its stake in shares of Chewy by 306.3% in the fourth quarter. CoreCap Advisors LLC now owns 845 shares of the company's stock worth $28,000 after buying an additional 637 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Chewy in the fourth quarter worth about $31,000. Finally, Harbour Investments Inc. boosted its position in Chewy by 81.4% during the fourth quarter. Harbour Investments Inc. now owns 907 shares of the company's stock worth $30,000 after acquiring an additional 407 shares during the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Price Performance

CHWY stock traded up $0.28 during trading on Monday, hitting $23.65. The stock had a trading volume of 2,503,135 shares, compared to its average volume of 7,869,328. Chewy has a twelve month low of $23.06 and a twelve month high of $48.62. The company's 50-day moving average price is $27.71 and its two-hundred day moving average price is $32.64. The stock has a market capitalization of $9.81 billion, a P/E ratio of 49.31, a PEG ratio of 1.58 and a beta of 1.60.

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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