Harbour Capital Advisors LLC Invests $775,000 in Chewy (NYSE:CHWY)

Harbour Capital Advisors LLC purchased a new stake in Chewy (NYSE:CHWY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,020 shares of the company's stock, valued at approximately $775,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Chewy by 31.8% during the 4th 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 period. Durable Capital Partners LP purchased a new position in Chewy during the fourth quarter worth about $79,050,000. Invesco Ltd. boosted its holdings in Chewy by 4,577.5% in the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company's stock valued at $73,381,000 after purchasing an additional 2,144,302 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Chewy in the 4th quarter valued at about $69,789,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Chewy in the 1st quarter valued at approximately $61,390,000. Institutional investors and hedge funds own 93.09% of the company's stock.

Insider Transactions at Chewy

In other news, CEO Sumit Singh sold 148,063 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the completion of the sale, the chief executive officer now owns 705,252 shares in the company, valued at approximately $28,682,598.84. The trade was a 17.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Reeder sold 11,582 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $36.44, for a total transaction of $422,048.08. Following the completion of the transaction, the chief financial officer now directly owns 397,556 shares in the company, valued at $14,486,940.64. This trade represents a 2.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 236,046 shares of company stock valued at $9,387,635. Insiders own 0.43% of the company's stock.

Chewy Stock Performance

CHWY stock traded down $0.77 during mid-day trading on Wednesday, reaching $42.62. The company had a trading volume of 16,439,758 shares, compared to its average volume of 6,857,187. The company has a market capitalization of $17.70 billion, a price-to-earnings ratio of 47.89, a price-to-earnings-growth ratio of 8.89 and a beta of 1.75. The firm has a fifty day simple moving average of $41.05 and a 200 day simple moving average of $37.10. Chewy has a fifty-two week low of $19.75 and a fifty-two week high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last released its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The business's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts predict that Chewy will post 0.24 earnings per share for the current year.

Analysts Set New Price Targets

CHWY has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Chewy from $40.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, March 27th. UBS Group upped their price target on Chewy from $36.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Citigroup reissued a "buy" rating and set a $49.00 price objective (up from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Barclays boosted their price objective on shares of Chewy from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $50.00 target price (up previously from $39.00) on shares of Chewy in a research note on Thursday, June 12th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $43.39.

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.