Envestnet Asset Management Inc. Has $6.78 Million Stock Position in Chewy, Inc. (NYSE:CHWY)

Envestnet Asset Management Inc. decreased its position in Chewy, Inc. (NYSE:CHWY - Free Report) by 7.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 202,465 shares of the company's stock after selling 16,427 shares during the period. Envestnet Asset Management Inc.'s holdings in Chewy were worth $6,781,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC acquired a new stake in shares of Chewy during the fourth quarter worth approximately $2,915,000. Raymond James Financial Inc. purchased a new position in shares of Chewy during the 4th quarter valued at $69,789,000. Geode Capital Management LLC raised its holdings in shares of Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company's stock worth $45,443,000 after acquiring an additional 119,633 shares in the last quarter. Birch Hill Investment Advisors LLC acquired a new stake in Chewy during the fourth quarter valued at $1,174,000. Finally, Money Concepts Capital Corp purchased a new position in Chewy in the fourth quarter valued at about $225,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Trading Up 1.2 %

NYSE CHWY traded up $0.44 on Friday, reaching $36.47. The company's stock had a trading volume of 1,066,871 shares, compared to its average volume of 7,389,750. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $40.09. The firm has a market cap of $15.09 billion, a PE ratio of 40.14, a price-to-earnings-growth ratio of 2.21 and a beta of 1.68. The business has a 50-day moving average price of $34.06 and a 200 day moving average price of $33.70.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $3.25 billion for the quarter, compared to analysts' expectations of $3.20 billion. During the same period in the prior year, the business posted $0.07 earnings per share. The business's revenue was up 15.0% compared to the same quarter last year. Analysts anticipate that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CHWY shares. Morgan Stanley dropped their price objective on Chewy from $40.00 to $39.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Seaport Res Ptn upgraded shares of Chewy to a "hold" rating in a report on Monday, March 24th. Guggenheim set a $42.00 target price on Chewy and gave the company a "buy" rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price target on Chewy from $40.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Citigroup raised their price objective on Chewy from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.47.

Insider Activity at Chewy

In other Chewy news, CEO Sumit Singh sold 9,285 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $40.00, for a total transaction of $371,400.00. Following the sale, the chief executive officer now owns 489,750 shares of the company's stock, valued at $19,590,000. This represents a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Satish Mehta sold 83,639 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $3,345,560.00. Following the completion of the transaction, the chief technology officer now directly owns 334,218 shares of the company's stock, valued at approximately $13,368,720. This represents a 20.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 537,831 shares of company stock valued at $20,246,710 in the last ninety days. Insiders own 2.10% of the company's stock.

About Chewy

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.