Ardsley Advisory Partners LP Makes New Investment in Chewy $CHWY

Key Points

• Ardsley Advisory Partners LP has acquired 36,000 shares of Chewy, valued at approximately $1.17 million, as per their recent SEC filing.
• Analysts have a consensus rating of "Moderate Buy" for Chewy, with a price target ranging from $44.00 to $52.00 across various firms.
• Chewy reported an EPS of $0.35 for the latest quarter, surpassing analysts' expectations, and its revenue increased by 6.3% compared to the previous year.

Ardsley Advisory Partners LP acquired a new position in shares of Chewy (NYSE:CHWY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 36,000 shares of the company's stock, valued at approximately $1,170,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Durable Capital Partners LP bought a new stake in Chewy in the fourth quarter worth approximately $79,050,000. Assenagon Asset Management S.A. purchased a new position in shares of Chewy during the first quarter valued at approximately $61,390,000. Ameriprise Financial Inc. boosted its position in Chewy by 426.1% in the first quarter. Ameriprise Financial Inc. now owns 1,189,957 shares of the company's stock worth $38,686,000 after purchasing an additional 963,780 shares during the last quarter. Neuberger Berman Group LLC boosted its position in Chewy by 35.7% in the first quarter. Neuberger Berman Group LLC now owns 2,304,006 shares of the company's stock worth $74,903,000 after purchasing an additional 606,526 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Chewy in the first quarter worth $19,552,000. 93.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Chewy news, CAO William G. Billings sold 20,142 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $35.57, for a total transaction of $716,450.94. Following the sale, the chief accounting officer directly owned 29,464 shares of the company's stock, valued at $1,048,034.48. This trade represents a 40.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 4,264 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $35.57, for a total value of $151,670.48. Following the sale, the chief executive officer directly owned 72,549 shares in the company, valued at approximately $2,580,567.93. This represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,008,777 shares of company stock valued at $1,252,444,321 in the last ninety days. Insiders own 0.43% of the company's stock.

Chewy Trading Up 2.8%

NYSE CHWY traded up $1.15 on Friday, hitting $42.31. 7,029,970 shares of the company traded hands, compared to its average volume of 5,728,143. The company has a market capitalization of $17.57 billion, a price-to-earnings ratio of 47.54, a P/E/G ratio of 8.84 and a beta of 1.65. The business's 50 day moving average price is $38.84 and its 200-day moving average price is $38.22. Chewy has a 52-week low of $25.21 and a 52-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, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.08 billion. Chewy had a return on equity of 35.04% and a net margin of 3.21%.Chewy's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share. Chewy has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Chewy will post 0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

CHWY has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, June 12th. Needham & Company LLC restated a "hold" rating on shares of Chewy in a research note on Thursday, June 12th. Citigroup restated an "outperform" rating on shares of Chewy in a report on Thursday, July 10th. UBS Group reiterated a "neutral" rating and issued a $44.00 price objective on shares of Chewy in a report on Tuesday, August 5th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $43.00 target price (up previously from $41.00) on shares of Chewy in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Chewy currently has a consensus rating of "Moderate Buy" and an average price target of $43.78.

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.