Aigen Investment Management LP Invests $791,000 in Chewy (NYSE:CHWY)

Key Points

• Aigen Investment Management LP acquired a new stake in Chewy, purchasing 24,328 shares valued at approximately $791,000 in the first quarter.
• Several analysts have raised their price targets for Chewy, with Mizuho setting a new target of $47.00 and Morgan Stanley increasing theirs to $50.00.
• Insiders have sold a substantial amount of Chewy stock recently, with one major shareholder selling about $1.25 billion worth of shares, indicating potential shifts in investor sentiment.

Aigen Investment Management LP bought a new stake in Chewy (NYSE:CHWY - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,328 shares of the company's stock, valued at approximately $791,000.

Several other institutional investors and hedge funds have also modified their holdings of CHWY. Jefferies Financial Group Inc. bought a new stake in Chewy in the first quarter valued at about $3,251,000. D.A. Davidson & CO. raised its holdings in shares of Chewy by 38.7% during the first quarter. D.A. Davidson & CO. now owns 43,725 shares of the company's stock worth $1,422,000 after acquiring an additional 12,206 shares during the period. Polar Asset Management Partners Inc. grew its position in Chewy by 26.5% in the fourth quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company's stock valued at $9,670,000 after purchasing an additional 60,533 shares in the last quarter. Victory Capital Management Inc. grew its position in Chewy by 74.5% in the first quarter. Victory Capital Management Inc. now owns 139,889 shares of the company's stock valued at $4,548,000 after purchasing an additional 59,711 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Chewy in the first quarter valued at $11,326,000. 93.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chewy

In other Chewy news, CTO Satish Mehta sold 8,727 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $35.82, for a total value of $312,601.14. Following the completion of the sale, the chief technology officer directly owned 276,467 shares of the company's stock, valued at $9,903,047.94. This trade represents a 3.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William G. Billings sold 20,142 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $35.57, for a total value of $716,450.94. Following the transaction, the chief accounting officer owned 29,464 shares of the company's stock, valued at approximately $1,048,034.48. This represents a 40.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,008,777 shares of company stock valued at $1,252,444,321 over the last ninety days. Company insiders own 0.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Citigroup reissued an "outperform" rating on shares of Chewy in a research report on Thursday, July 10th. UBS Group reaffirmed a "neutral" rating and set a $44.00 target price on shares of Chewy in a report on Tuesday, August 5th. Guggenheim reaffirmed a "buy" rating and set a $45.00 target price (up previously from $42.00) on shares of Chewy in a report on Thursday, June 12th. Barclays lifted their price objective on shares of Chewy from $44.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. Finally, Mizuho cut shares of Chewy from an "outperform" rating to a "neutral" rating and lifted their price objective for the stock from $43.00 to $47.00 in a research note on Monday, June 9th. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.78.

Chewy Trading Down 1.2%

Shares of CHWY stock traded down $0.47 during trading hours on Thursday, reaching $38.94. 7,520,295 shares of the company's stock were exchanged, compared to its average volume of 6,349,726. The company has a market cap of $16.17 billion, a price-to-earnings ratio of 43.75, a P/E/G ratio of 7.56 and a beta of 1.67. Chewy has a fifty-two week low of $25.19 and a fifty-two week high of $48.62. The stock's 50 day moving average is $39.74 and its 200-day moving average is $37.95.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.08 billion. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The company's revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. Equities analysts anticipate that Chewy will post 0.24 EPS for the current year.

Chewy Profile

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.